Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are
Question:
Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are active participants in employer qualified retirement plans. Their total AGI in 2016 is $187,000, and they earn salaries of $87,000 and $95,000, respectively. What amount may Carri and Dane?
a. Contribute to regular IRAs?
b. Deduct for their contributions in (a)?
c. Contribute to Roth IRAs?
d. Deduct for their contributions in (c)?
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a Carri and Dane can each contribute 5500 to their traditional IRA b Neither Carri nor Dane can ...View the full answer
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Related Book For 
South Western Federal Taxation Individual Income Taxes 2017
ISBN: 9781305873988
40th Edition
Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young, Nellen
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