H (age 50) and W (age 48) are married but only W is employed. She is not covered by a retirement plan at work. She earns $75,000 during the year and they have combined AGI of $78,000 before any IRA contribution. In 2018, the maximum amount together they may contribute to tax deductible IRAs is

Question

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In 2018, individuals under 50 could contribute up to $5,500 to an IRA, and those 50 or older could contribute up to $6,500. Since W is employed and not covered by a retirement plan, both H and W can contribute to a deductible IRA. H can contribute $6,500 (since he is 50), and W can contribute $5,500, totaling $12,000.

H (Age 50) and W (Age 48) Are Married but Only