Valerie and Marty Are Both Age 51 and File a Joint

question 23

Multiple Choice

Valerie and Marty are both age 51 and file a joint return.They have one child who is age 17.They have combined AGI in 2016 of $180,000.What is their maximum permitted contribution to a Coverdell Education Savings Account for 2016 assuming no other persons make contributions?

• A)$2,000.
• B)$0.
• C)$5,500.
• D)$6,500.