Mr. Brown (age 60) and Mrs. Brown (age 54) received income from the following sources during the tax year: pension payments, social security benefits, savings account interest, and dividends. Their total AGI is $34,000. To reduce their tax liability, they ask you if they should contribute to their IRA before the filing deadline and, if so, how much. How would you answer?

a) Yes; Mr. & Mrs. Brown should contribute $5,500 each to their respective traditional IRAs and claim an IRA deduction to reduce their tax liability.

b) Yes; Mr. & Mrs. Brown should contribute $6,500 each to their respective Roth IRAs and claim an IRA deduction to reduce their tax liability.

c) Yes; Mr. & Mrs. Brown should contribute $6,500 each to their respective traditional IRAs and claim an IRA deduction to reduce their tax liability.

d) No; Mr. & Mrs. Brown cannot contribute to their traditional IRA this year.