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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
Edition 4ISBN: 978-0078110993 Exercise 53
Ed and Cathy, both under age 50, file a joint return. Neither is covered under an employer pension plan. Ed earned compensation of $55,000 in 2010. Cathy worked part-time and earned $1,200. What is the maximum deductible IRA contribution they can make in 2010? a. $0.
B) $5,000.
C) $6,200.
D) $10,000.
B) $5,000.
C) $6,200.
D) $10,000.
Explanation
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Fundamentals of Taxation 2011 4th Edition by Ana Cruz, Debra Prendergast, Dan Schisler, Michael Deschamps
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