Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are
Question:
Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are active participants in employer qualified retirement plans. Their total AGI in 2018 is $192,000, and they earn salaries of $87,000 and $95,000, respectively. What amount may Carri and Dane:
a. Contribute to regular IRAs?
b. Deduct for their contributions in part (a)?
c. Contribute to Roth IRAs?
d. Deduct for their contributions in part (c)?
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a Carri and Dane can each contribute 5500 to their traditional IRA b Neither Carri nor Dane ...View the full answer
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Related Book For 
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
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