Cisco and Carmen Are Both in Their 30's and Are

question 88

Multiple Choice

Cisco and Carmen are both in their 30's and are married. Carmen earns $72,000 and Cisco earns $28,000. Their adjusted gross income is $107,000. Carmen is an active participant in her company's pension plan. Cisco's employer does not have a pension plan. What are Carmen and Cisco's maximum combined IRA contribution and deduction amounts?
Contribution Deduction

• A)$-0- $-0-
• B)$11,000 $5,500
• C)$11,000 $9,350
• D)$11,000 $11,000

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Definitions:

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