MrM Has Earned Income of $125,000 in the Current Year

question 37

Multiple Choice

Mr.M has earned income of $125,000 in the current year and is a participant in his employer's qualified retirement plan.Mrs.M is a housewife and has no earned income.During 2011, the Ms may make total deductible contributions to their IRAs of

• A)$0
• B)$4,000
• C)$5,000
• D)$10,000