Kathy and Patrick Are Married with Salaries of $28,000 and $21,000,respectively.Adjusted

question 82

Short Answer

Kathy and Patrick are married with salaries of $28,000 and $21,000,respectively.Adjusted gross income on their jointly filed tax return is $54,000.Both individuals are active participants in employer provided qualified pension plans.What are Kathy and Patrick's maximum combined IRA contribution and deduction amounts?
$\begin{array}{ll}\text { Contribution } & \text { Deduction } \\a.\$-0- & \$-0- \\b.\$ 11,000 & \$-0- \\c.\$ 5,500 & \$ 5,500 \\d.\$ 11,000 & \$ 8,000 \\e.\$ 11,000 & \$ 11,000\end{array}$

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