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MrT, an Architect, Had Current Year Earned Income of $25,000

Question 42

Multiple Choice

Mr.T, an architect, had current year earned income of $25,000 in 2011.Mrs.T earned $1,800 during the year by typing for university students.The maximum amount the Ts may collectively contribute to their Individual Retirement Accounts is


A) $4,000
B) $5,000
C) $5,800
D) $8,000
E) $10,000

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