Multiple Choice
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?
Contribution Deduction
A) $-0- $-0-
B) $11,000 $-0-
C) $5,500 $5,500
D) $11,000 $8,000
E) $11,000 $11,000
Correct Answer:

Verified
Correct Answer:
Verified
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