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For each of the following IRA situations,determine the amount the taxpayer can deduct.Discuss any limitations,which might be placed,on the deduction.
a.Marissa is single and is an active participant in a qualified employee pension plan.Determine the maximum Roth IRA contribution that she can make if her adjusted gross income for the year is $133,000.
b.David and Donna are married and file a joint return.Each is covered by an employee-sponsored pension plan,and their adjusted gross income is $104,000.Determine their maximum IRA contribution and deduction for the current year.
c.Pedro and Roxanne are married and have two children,ages 8 and 4.Their adjusted gross income for the year is $196,000.What is maximum amount they can contribute to each child's Coverdell Education Savings Account (CESA)for the year?
Reception Desk
The area in a business or office where visitors are greeted and assisted.
Clinical Staff
Medical professionals who provide direct care to patients, such as doctors, nurses, and therapists, within a healthcare setting.
Bleeding Heavily
Experiencing an abnormal, excessive blood loss which can be a sign of an underlying condition or emergency situation, requiring medical attention.
Social Representations
Collectively elaborated explanations of unfamiliar and complex phenomena that transform them into a familiar and simple form.
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