Question
In 2018, Nina and Bob are married and reported the following items of income at the end of the tax year: Nina Bob Total Salary
In 2018, Nina and Bob are married and reported the following items of income at the end of the tax year:
| Nina | Bob | Total | ||
Salary | $40,000 | $ 0 | $40,000 | ||
Interest income | $ 1,000 | $ 200 | $ 1,200 | ||
Alimony received (prior to marriage) | $ 0 | $10,000 | $10,000 | ||
Total | $41,000 | $10,000 | $51,200 |
Neither Nina nor Bob is covered by a qualified retirement plan. They were married in December 2018. Assuming they file married filing jointly and are both age 45, what is the maximum combined tax-deductible amount, if any, that they can contribute to their traditional IRAs?
Group of answer choices
$0
$6,500
$11,000
$5,500
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