Question
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2019, their AGI is
Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2019, their AGI is $197,900. Jackson and Ashley each earned half of the income. Use Tax Rate Schedule for reference. (Leave no answer blank. Enter zero if applicable.)
a. How much can Ashley contribute to her Roth IRA if they file a joint return?
b. How much can Ashley contribute if she files a separate return?
c. Assume that Ashley earned all of the couples income and that she contributed the maximum amount she is allowed to contribute to a Roth IRA. What amount can be contributed to Jacksons Roth IRA?
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