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?
$\begin{array}{ll}\text { Contribution } & \text { Deduction } \\a.\$-0- & \$-0- \\b.\$ 11,000 & \$ 2,500\\c.\$ 11,000 & \$ 5,500 \\d.\$ 11,000 & \$ 7,500 \\e.\$ 11,000 & \$ 11,000\end{array}$