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Sam and Martha are married filing jointly and wish to contribute to separate traditional IRA accounts. Sam works as a college professor and earned $195,000
Sam and Martha are married filing jointly and wish to contribute to separate traditional IRA accounts. Sam works as a college professor and earned $195,000 in 2020. Martha earns $55,000 and is not covered by a retirement plan at work. What is the maximum deductible amount each may contribute to an IRA in 2020?
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