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Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are active participants in employer qualified retirement plans. Their
Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are active participants in employer qualified retirement plans. Their total AGI in 2019 is $196,000, and they earn salaries of $87,000 and $95,000, respectively. Click here to access Exhibit 19.3. Compute the following amounts. If an amount is zero, enter "0". Do not round intermediate computations. Amount a. The amount each can contribute to a regular IRA. b. The amount each can deduct for regular IRA contributions. c. The amount each can contribute to a Roth IRA. d. The amount each can deduct for Roth IRA contributions. o Exhibit 19.3 Phaseout of IRA Deduction of an Active Participant in 2019 Phaseout Ends AGI Filing Status Single and head of household Married, filing joint return Phaseout Begins * $ 64,000 103,000 $ 74,000 123,000 Married, filing separate return -0- 10,000
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