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Cisco and Carmen Are Both in Their 30's and Are

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Cisco and Carmen are both in their 30's and are married. Carmen earns $69,000 and Cisco earns $28,000. Their adjusted gross income is $102,000. Carmen is an active participant in her company's pension plan. Cisco's employer does not have a pension plan. What are Carmen and Cisco's maximum combined IRA contribution and deduction amounts? Cisco and Carmen are both in their 30's and are married. Carmen earns $69,000 and Cisco earns $28,000. Their adjusted gross income is $102,000. Carmen is an active participant in her company's pension plan. Cisco's employer does not have a pension plan. What are Carmen and Cisco's maximum combined IRA contribution and deduction amounts?


Definitions:

Cryptocurrency

A digital or virtual currency that uses cryptography for secure financial transactions, and operates independently of a central bank.

Public Ledger

A ledger available to the public that records all transactions in a network, commonly associated with blockchain technology.

Codec

A device or program that compresses data to enable faster transmission and decompresses received data.

MPEG-4

A method of defining compression of audio and visual (AV) digital data, introduced to provide improved multimedia capabilities.

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