Dan and Dawn are married and file a joint return.During the current year,Dan had a salary of $30,000 and Dawn had a salary of $36,000.Both Dan and Dawn are covered by an employer-sponsored pension plan.Their adjusted gross income for the year is $95,000.Determine the maximum IRA contribution and deduction amounts.

Question

Dan and Dawn are married and file a joint return.During the current year,Dan had a salary of $30,000 and Dawn had a salary of $36,000.Both Dan and Dawn are covered by an employer-sponsored pension plan.Their adjusted gross income for the year is $95,000.Determine the maximum IRA contribution and deduction amounts.
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Quizplus · Accepted Answer

The Answer of Dan and Dawn are married and file a joint return.During the current year,Dan had a salary of $30,000 and Dawn had a salary of $36,000.Both Dan and Dawn are covered by an employer-sponsored pension plan.Their adjusted gross income for the year is $95,000.Determine the maximum IRA contribution and deduction amounts.
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Dan and Dawn Are Married and File a Joint Return