2. Bob and Nancy are married and file a joint return in 2020. They are both under...
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2. Bob and Nancy are married and file a joint return in 2020. They are both under age 50 and employed, with wages of $50,000 each. Their total AGI is $112,000. Neither of them is an active participant in a qualified plan. What is the maximum traditional IRA deduction they can take for the current year?
a. $0
b. $6,000
c. $9,600
d. $12,000
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Related Book For
Essentials Of Taxation Individuals And Business Entities
ISBN: 233160
1st Edition
Authors: Nellen/Young/Raabe/Maloney
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