Arturo and Josephina Are Married with Salaries of $47,000 and $48,000,respectively.Their

question 118

Short Answer

Arturo and Josephina are married with salaries of $47,000 and $48,000,respectively.Their combined AGI is $100,000.Josephina is an active participant in her company's qualified pension plan while Arturo is not.Determine Arturo and Josephina's combined IRA contribution and deduction amounts?
$\begin{array}{cl}\begin{array}{c}\text { Maximum } \\\underline {\text { Contribution }}\end{array} & \begin{array}{c}\text { Maximum } \\\underline {\text { Deduction }}\end{array} \\a. \$ 5,500 & \$ 2,750 \\b.\$ 11,000 & \$ 2,750 \\c.\$ 11,000 & \$ 5,500 \\d.\$ 11,000 & \$ 9,625 \\e.\$ 11,000 & \$ 11,000\end{array}$

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Definitions:

Intensity of Behavior

The strength or magnitude of an action or behavior, often measured in terms of frequency, duration, or amplitude.

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