Carl,age 59,and Cindy,age 49,are Married and File a Joint Return

question 103

Multiple Choice

Carl,age 59,and Cindy,age 49,are married and file a joint return.During the current year,Carl had a salary of $41,000 and Cindy had a salary of $35,000.Both Carl and Cindy are covered by an employer-sponsored pension plan.Their adjusted gross income for the year is $94,000.Determine the maximum IRA contribution and deduction amounts.
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Maximum Maximum
Contribution Deduction

• A)$12,000 $12,000
• B)$11,000 $11,000
• C)$12,000 $11,000
• D)$11,000 $9,000
• E)$13,000 $13,000

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