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In 2023, Lola and Lonnie are married and reported the following items of income at the end of the tax year: For Lola, salary of
In 2023, Lola and Lonnie are married and reported the following items of income at the end of the tax year: For Lola, salary of $117,000, interest income of $1000. For Lonnie, salary of 100,000, interest income of $200 Lola is covered by a 457 plan at work, and Lonnie is not covered by any type of qualified retirement plan. If they both file married jointly and are both age 45, what is the maximum combined tax-deductible amount, if any, that they can contribute to their traditional IRA's? a.$13,000 b.$7,500 c.$6,500 d.$0
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