Zorica and Pierre are married and file a joint return. Zorica earns $59,500, and Pierre earns $30,000.

Question:

Zorica and Pierre are married and file a joint return. Zorica earns $59,500, and Pierre earns $30,000. Their adjusted gross income is $97,000. Determine the maximum IRA contribution and deduction in each of the following cases:
a. Neither Zorica nor Pierre is covered by an employer-sponsored pension plan.
b. Only Zorica is covered by an employer-sponsored pension plan.
c. Assume the same facts as in part b, except that Pierre has no income, and their adjusted gross income is $120,000.