Gene, age 34, and Beth, age 32, have been married for nine years. Gene, who is a

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Gene, age 34, and Beth, age 32, have been married for nine years. Gene, who is a college student, works part-time and earns $1,500. Beth is a high school teacher and earns a salary of $34,000. Their AGI is $37,000.

a. What is the maximum amount Gene can contribute to an IRA in 2018?

b. What is the maximum amount Beth can contribute to an IRA in 2018?

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South-Western Federal Taxation 2019 Individual Income Taxes

ISBN: 9781337702546

42nd Edition

Authors: James C. Young, William H. Hoffman, William A. Raabe, David M. Maloney, Annette Nellen

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Question Posted: Jul 19, 2024 04:00 PM

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Gene, age 34, and Beth, age 32, have been married for nine years. Gene, who is a

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a and b Gene and Beth may each co...View the full answer

South-Western Federal Taxation 2019 Individual Income Taxes

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