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Mike and Deb (ages 49 and 53, respectively) file a joint return. Mike's wages of $105,300 are their only source of income in 2018. Mike
Mike and Deb (ages 49 and 53, respectively) file a joint return. Mike's wages of $105,300 are their only source of income in 2018. Mike contributes to his 401(k) plan at work. If Mike contributes $5,500 to his traditional IRA for 2018, what amount can he deduct?
a. $0
b. $5,110
c. $4,320
d. $5,500
e. $5,000
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