Adam and Wendy are both considering contributing to an IRA. They are married, both are over age
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Question:
Adam and Wendy are both considering contributing to an IRA. They are married, both are over age 50, and both are employed and covered by retirement plans at work. Their modified AGI is $96,000. What is the maximum amount they can contribute and deduct on their tax return?
a) $11,000
b) $12,000
c) $13,000
d) $14,000
Related Book For
Fundamentals Of Taxation For Individuals A Practical Approach 2024
ISBN: 9781119744191
1st Edition
Authors: Gregory A Carnes, Suzanne Youngberg
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