Mr and Mrs Alexander, Ages 43 and 44, Each Earn

question 3

Multiple Choice

Mr and Mrs Alexander, ages 43 and 44, each earn substantial salaries but do not participate in any type of employer-sponsored qualified retirement plan. Which of the following is true?

• A) The couple can each contribute $5,500 to a traditional IRA and take an $11,000 itemized deduction on their joint Form 1040.
• B) The couple can each contribute $5,500 to a traditional IRA and take an $11,000 above-the-line deduction on their joint Form 1040.
• C) The couple can each contribute $2,750 to a traditional IRA and take a $5,500 above-the-line deduction on their joint Form 1040.
• D) The couple can each contribute $2,750 to a traditional IRA and take a $5,500 itemized deduction on their joint Form 1040.

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Definitions:

Circulatory Problems

Health issues related to the system responsible for moving blood, nutrients, oxygen, carbon dioxide, and hormones around the body.

Familiarity

The state of having knowledge about something through experience or being acquainted with it.

Recollection

Recall of the context in which a certain stimulus was encountered.

Explicit

Information or material stated clearly and in detail, leaving no room for confusion or doubt.