Angel is covered by an insurance policy that includes sick pay. He pays the full amount of the premiums. In 2020 he was out of work for a few weeks and received sick pay from this insurance policy. He received a Form W-2 from the insurance company with Third Party Sick Pay checked in box 13. This sick pay will be:

Select one:

a. Taxable and included in box 1 of Form W-2.

b. Nontaxable and included in box 1 of Form W-2

c. Nontaxable and excluded from box 1 of Form W-2.

d. Taxable and required to be reported on Form 1040, line 7.

brai (age 49) and Mila (age 52) are married and filing a joint return. Myron has earned income of $42,000 and is not covered by an employer plan. brai is a homemaker and does not work outside the home. What is the total amount they can deduct for contributions to traditional IRAs for both brai and Mila? Select one:

a. $6,500

b. $11,000

c. $13,000

d. $12,000

Leo and vita are married filing jointly. They are both employed and covered by retirement plans through their employers. They will not be able to deduct contributions to their traditional IRAs if their Modified AGI is what amount?

Select one:

a. $124,000 or more

b. $98,500 or less

c. $75,000 or more

d. $104,000 or less