Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth

Question:

Jackson and Ashley Turner (both 45 years old) are married and want to contribute to a Roth IRA for Ashley. In 2016, their AGI is $186,000. Jackson and Ashley each earned half of the income.

a) How much can Ashley contribute to her Roth IRA if they file a joint return?

b) How much can Ashley contribute if she files a separate return?

c) Assume that Ashley earned all of the couple’s income and that she contributed the maximum amount she is allowed to contribute to a Roth IRA. What amount can be contributed to Jackson’s Roth IRA?

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