Realizing That Providing for a Comfortable Retirement Is Up to Them

question 37

Multiple Choice

Realizing that providing for a comfortable retirement is up to them, Jim and Julie commit to making regular contributions to their IRAs, beginning this year.Consequently, they each make a $2,000 contribution to their traditional IRA.If their AGI is $35,000 on their joint return, what is the amount of their credit for certain retirement plan contributions?

• A)$800.
• B)$600.
• C)$400.
• D)$200.
• E)None of the above.

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Definitions:

M-toluidine

An organic compound, specifically a derivative of toluene, with a methylene group (-CH3) attached to the benzene ring at the meta position relative to an amino group.

Ethylisopropylamine

An organic compound containing an ethyl group, an isopropyl group, and an amine group in its molecular structure.

Ethylamine

An organic compound with the formula CH3CH2NH2, a colorless gas with an ammonia-like odor, used in chemical synthesis.

Major Organic Compound

A primary or predominant organic substance in a mixture or reaction.