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Posted on Oct 23, 2024

George and Mary, ages 4 5 and 4 3 , each put $ 7 , 0 0 0 into their respective IRAs. George's employer does

George and Mary, ages

45

and

43,

each put $

7, 000

into their respective IRAs. George's employer does

not provide a qualified retirement plan, but Mary participates in a

401 (k)

plan at work. Their AGI is

232, 000,

and they file jointly. How much of their IRA contributions will be deductible for

2024 ?

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