Question
Miles (45) and Sarah (51) Tobias are married, and they will file a joint return for 2021. During the year, Miles earned $95,000 in wages;
Miles (45) and Sarah (51) Tobias are married, and they will file a joint return for 2021. During the year, Miles earned $95,000 in wages; Sarah earned $19,700 from a part-time job and was not a participant in an employer-maintained retirement plan. They had no other income. What is the maximum amount the couple may contribute to Sarah's traditional IRA for 2021?
$0
$3,500
$6,000
$7,000
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Cost Management A Strategic Emphasis
Authors: Edward Blocher, David E. Stout, Gary Cokins, Kung Chen
4th Edition
0073128155, 978-0073128153
