Isabelle and Marshall Are Married with Salaries of $50,000 and $45,000,respectively.Adjusted

question 11

Short Answer

Isabelle and Marshall are married with salaries of $50,000 and $45,000,respectively.Adjusted gross income on their jointly filed tax return is $102,000.Both individuals are active participants in employer provided qualified pension plans.What are Isabelle and Marshall's maximum combined IRA contribution and deduction amounts?
$\begin{array}{lc}\text { Contribution } & \text { Deduction } \\\text { a. } \$-0- & \$-0- \\\text { b. } \$ 11,000 & \$ 2,500 \\\text { c. } \$ 11,000 & \$ 5,500 \\\text { d. } \$ 11,000 & \$ 7,500 \\\text { e. } \$ 11,000 & \$ 11,000\end{array}$

---

Definitions:

Democratic Procedures

Processes and methods that follow the principles of democracy, typically involving inclusive participation, equal voting rights, and majority rule in decision-making.

Amalgamated Union

A labor union formed from the combination of two or more unions, typically to strengthen their bargaining power.

Variety of Industries

A wide range of sectors or fields of economic activity involved in the production of goods and services.

Union Steward

A union representative elected by fellow workers to serve as their liaison with union officials and management, often playing a crucial role in grievance processes.