Bob and Monica are married for a lot of years. Bob is 42 years old and has a salary of $65,000 in 2021, and also received an $8,000 bonus for the year. Monica is 38 and stays at home with the couple’s 3 kids, but does work one night per week at the local diner. Her wages for 2021 totaled $2,700, and she also received $1,350 in tips. Neither spouse has access to a retirement plan at work. It is now February 15, 2022. (The maximum IRA contribution limit for 2021 is $6,000. The catch-up provision for older individuals is an additional $1,000.)

What is the maximum amount that could be contributed to an IRA for 2021 for Bob ?

What is the maximum amount that could be contributed to an IRA for 2021 for Monica ?