Question 9 1pts Terry and Nancy are both age 39 and each plan to contribute $5,500 to their traditional IRAs for the 2018 tax year. They are both employed and file a joint income tax return. However, only Terry is eligible for and participates in his employer's qualified retirement plan. Terry and Nancy's modified AGI and earned income for the year 2018 is 599,000. What amount, if any, can Nancy deduct for her IRA contribution? . $200 $5,500 $4,400 $2,500 D Question 10 1 pts In considering whether to convert a traditional IRA to the Roth IRA form, which of the following is a valid consideration? If the taxpayer anticipates being in a lower tax bracket at date of distribution from the Roth IRA, it generally makes sense to convert. It is generally advantageous if the converted assets will remain in the Roth IRA for a relatively short period of time before withdrawal If the source of payment for taxes due upon conversion comes from an outside source. It generally is advantageous to convert. If the taxpayer files as married filing separately and thereby splits income, it generally makes sense to convert