Mr and Mrs

question 92

Multiple Choice

Mr. and Mrs. Pointer, ages 45 and 46, each contributed the maximum $6,000 to their traditional IRAs. Each spouse actively participates in an employer-sponsored qualified retirement plan. Compute the deductible IRA contribution on their joint return if their AGI before such deduction is $112,970.

• A) $12,000
• B) $6,000
• C) $6,618
• D) $0

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Definitions:

Bystander Effect

An occurrence in social psychology where the presence of others decreases an individual's likelihood to aid someone in need.

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A social psychology phenomenon where individuals are less likely to offer help to a victim when other people are present, often due to diffused responsibility.