Isabelle and Marshall Are Married with Salaries of $50,000 and $45,000,respectively.Adjusted

Short Answer

Isabelle and Marshall are married with salaries of $50,000 and $45,000,respectively.Adjusted gross income on their jointly filed tax return is $102,000.Both individuals are active participants in employer provided qualified pension plans.What are Isabelle and Marshall's maximum combined IRA contribution and deduction amounts?
$\begin{array}{lc}\text { Contribution } & \text { Deduction } \\\text { a. } \$-0- & \$-0- \\\text { b. } \$ 11,000 & \$ 2,500 \\\text { c. } \$ 11,000 & \$ 5,500 \\\text { d. } \$ 11,000 & \$ 7,500 \\\text { e. } \$ 11,000 & \$ 11,000\end{array}$