Question
In 2020, Susan (44 years old) is a highly successful architect and is covered by an employee-sponsored plan. Her husband, Dan (47 years old), however,
In 2020, Susan (44 years old) is a highly successful architect and is covered by an employee-sponsored plan. Her husband, Dan (47 years old), however, is a Ph.D. student and unemployed. Compute the maximum deductible IRA contribution for each spouse in the following alternative situations. (Leave no answer blank. Enter zero if applicable.)
Problem 13-65 Part a (Static)
a. Susans salary and the couples AGI before any IRA contribution deductions is $199,000. The couple files a joint tax return.
Susan Dan
Maximum deductible
IRA contribution: _________ _________
b. Susans salary and the couples AGI before any IRA contribution deductions is $129,000. The couple files a joint tax return.
Susan Dan
Maximum deductible
IRA contribution: _________ _________
c. Susans salary and the couples AGI before any IRA contribution deductions is $83,000. The couple files a joint tax return.
Susan Dan
Maximum deductible
IRA contribution: _________ _________
d. Susans salary and her AGI before the IRA contribution deduction is $83,000. Dan reports $5,000 of AGI before the IRA contribution deduction (earned income). The couple files separate tax returns.
Susan Dan
Maximum deductible
IRA contribution: _________ _________
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