Fred and Irma are married with salaries of $49,000 and $44,000,respectively.Their combined AGI is $105,000.Both are active participant in their companies' qualified pension plans.Determine their maximum combined IRA contribution and deduction amounts?
$\begin{array}{cl}
\begin{array}{c}
\text { Maximum } \
\underline {\text { Contribution }}
\end{array} & \begin{array}{c}
\text { Maximum } \
\underline {\text { Deduction }}
\end{array} \
a. \$ 5,500 & \$ 2,750 \
b.\$ 11,000 & \$ 2,750 \
c.\$ 11,000 & \$ 5,500 \
d.\$ 11,000 & \$ 7,500 \
e.\$ 11,000 & \$ 11,000
\end{array}$

Question

Fred and Irma are married with salaries of $49,000 and $44,000,respectively.Their combined AGI is $105,000.Both are active participant in their companies' qualified pension plans.Determine their maximum combined IRA contribution and deduction amounts?
$\begin{array}{cl}
\begin{array}{c}
\text { Maximum } \
\underline {\text { Contribution }}
\end{array} & \begin{array}{c}
\text { Maximum } \
\underline {\text { Deduction }}
\end{array} \
a. \$ 5,500 & \$ 2,750 \
b.\$ 11,000 & \$ 2,750 \
c.\$ 11,000 & \$ 5,500 \
d.\$ 11,000 &  \$ 7,500 \
e.\$ 11,000 & \$ 11,000
\end{array}$

Quizplus · Accepted Answer

The Answer of Fred and Irma are married with salaries of $49,000 and $44,000,respectively.Their combined AGI is $105,000.Both are active participant in their companies' qualified pension plans.Determine their maximum combined IRA contribution and deduction amounts?
$\begin{array}{cl}
\begin{array}{c}
\text { Maximum } \
\underline {\text { Contribution }}
\end{array} & \begin{array}{c}
\text { Maximum } \
\underline {\text { Deduction }}
\end{array} \
a. \$ 5,500 & \$ 2,750 \
b.\$ 11,000 & \$ 2,750 \
c.\$ 11,000 & \$ 5,500 \
d.\$ 11,000 &  \$ 7,500 \
e.\$ 11,000 & \$ 11,000
\end{array}$

Fred and Irma Are Married with Salaries of $49,000 and $44,000,respectively.Their