During 2010, George (a 24-year-old single taxpayer) has a salary of $40,000, dividend income of $14,000, and interest income of $3,000. In addition, he has rental income of $1,000. George is covered by a qualified retirement plan. Calculate the maximum regular IRA deduction that George is allowed.

b.During 2010, Irene (a single taxpayer, under 50) has a salary of $99,000 and dividend income of $8,000. Calculate Irene’s maximum contribution to a Roth IRA.