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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 total
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 11.2.
Compute the following amounts. If an amount is zero, enter "0". Do not round intermediate computations.
|
Phaseout of Traditional IRA Deduction of an Active Participant in 2019 (Exhibit 11.2)
AGI, Filing Status | Phaseout Begins | Phaseout Ends |
---|---|---|
Single and head of household | $ 64,000 | $ 74,000 |
Married, filing joint return | 103,000 | 123,000 |
Married, filing separate return | 0 | 10,000 |
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