1. Bob is 35 years old and currently unemployed. His spouse is employed. Their combined AGI for the year is expected to be 198,000. They will file jointly. The primary component of AGI is Bobs spouses wages. Bob would like to make a deductible contribution to his IRA and in the largest amount possible (without penalty).

   1. a) Bob cannot make a deductible contribution as he does not have any compensation.

   2. b) Bob cannot make a deductible contribution unless his spouse is an active participant is

      its employers retirement plan.

   3. c) Bob can make a deductible contribution in the amount of $3,000.

   4. d) Bob can make a deductible contribution in the amount of $6,000.

   5. e) None of the above.