Tucker (Age 52)and Elizabeth (Age 48)are a Married Couple

question 38

Multiple Choice

Tucker (age 52) and Elizabeth (age 48) are a married couple.Tucker is covered under a qualified retirement plan at his job and earned $90,000 in 2014.Elizabeth is employed as a lab technician and earned $30,000 but is not covered under a qualified retirement plan.They file a joint return; have interest and dividend income of $25,000.What is the maximum amount of tax deductible contributions may be made to a traditional IRA?

• A)$0
• B)$11,000
• C)$5,500
• D)$12,000

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Definitions:

Negative Correlation

An association between two variables characterized by the increase of one and the decrease of the other.

Nondirectional Correlation

A type of correlation that indicates a statistical relationship between two variables without specifying whether the relationship is positive or negative.

Negative Correlation

A connection between two variables where as one variable rises, the other falls.

Direct Correlation

A relationship between two variables where they move in the same direction.