Solved

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

Question 97

Multiple Choice

Isabelle and Marshall are married with salaries of $50,000 and $45,000,respectively.Adjusted gross income on their jointly filed tax return is $103,000.Both individuals are active participants in employer provided qualified pension plans.What are Isabelle and Marshall's maximum combined IRA contribution and deduction amounts?

Contribution Deduction


A) $-0- $-0-
B) $11,000 $2,500
C) $11,000 $5,500
D) $11,000 $8,800
E) $11,000 $11,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions