Question
It is 2018. Bob and Nancy are married and file a joint return. They are both under age 50 and employed, with wages of $50,000
It is 2018. Bob and Nancy are married and file a joint return. They are both under age 50 and employed, with wages of $50,000 each. Their total AGI is $110,000. Neither of them is an active participant in a qualified plan. What is the maximum traditional IRA deduction they can take for the current year?
a. $0
b. $5,500
c. $7,700
d. $11,000
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Management And Cost Accounting
Authors: Colin Drury
5th Edition
1861525362, 978-1861525369
