Question
In 2021, 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 2021, 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.) b. Susans salary and the couples AGI before any IRA contribution deductions is $129,000. The couple files a joint tax return.
b. Susans salary and the couples AGI before any IRA contribution deductions is $129,000. The couple files a joint tax return.
C.Susans salary and the couples AGI before any IRA contribution deductions is $83,000. The couple files a joint tax return.
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.
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