Tyler (age 50)and Connie (age 48)are a married couple.Tyler is covered under a qualified retirement plan at his job and earned $175,000 in 2016.Connie is employed as a lab technician and earned $30,000 but is not covered under a qualified retirement plan.They file a joint return;have interest and dividend income of $30,000.What is their maximum for AGI deduction for contributions to a traditional IRA?
A)$0
B)$5,500
C)$6,500
D)$12,000

Question

Quizplus · Accepted Answer

Since Tyler is covered by a qualified retirement plan and their joint income exceeds the phase-out limit for 2016, they cannot deduct contributions to a traditional IRA.

Tyler (Age 50)and Connie (Age 48)are a Married Couple