Mark and Cindy Are Married with Salaries of $45,000 and $42,000,respectively.Adjusted

question 112

Short Answer

Mark and Cindy are married with salaries of $45,000 and $42,000,respectively.Adjusted gross income on their jointly filed tax return is $96,000.Both individuals are active participants in employer provided qualified pension plans.What is the maximum amount each person may deduct for AGI with regard to IRA contributions?
Mark $\quad\quad$ Cindy
a. $\$ 1,000 \quad \$ 1,000$
b. $\$ 5,225 \quad \$ 5,225$
c. $\$ 3,200 \quad \$ 3,200$
d. $\$ - 0 - \quad \$ - 0 -$
e. $\$ 5,500 \quad \$ 5,500$

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Definitions:

Groove

A long narrow cut or depression, typically in a hard material, which can serve a variety of purposes such as providing a track or reducing friction.

Undercut Dimensions

Measurements related to features not easily visible or accessible because they're under other surfaces, often challenging to machine or measure.

Taper Ratio

The ratio indicating the change in diameter of a tapered object over its length, commonly used in engineering to specify conical elements.