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In the current year, Mike and Jane Smith filed a joint return. Mike earned ( $ 40,000 ) in wages and was covered by his

In the current year, Mike and Jane Smith filed a joint return. Mike earned \\( \\$ 40,000 \\) in wages and was covered by his employer's qualified retirement plan. Jane was employed part-time and received \\( \\$ 7,000 \\) in wages. The couple had no other income. Each contributed \\( \\$ 5,000 \\) to a traditional IRA account. The allowable IRA deduction on their current year joint tax return is

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