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 $91,000.Determine the maximum IRA contribution and deduction amounts.
$\begin{array}{cl}
\begin{array}{c}
\text { Maximum } \
\underline {\text { Contribution }}
\end{array} & \begin{array}{c}
\text { Maximum } \
\underline {\text { Deduction }}
\end{array} \
a. \$ 11,000 & \$ 11,000\
b.\$ 11,000 & \$ -0-\
c.\$ 11,000 & \$ 5,500 \
d.\$ 5,500 & \$ -0- \
e.\$ 8,000 & \$ 8,000
\end{array}$

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 $91,000.Determine the maximum IRA contribution and deduction amounts.
$\begin{array}{cl}
\begin{array}{c}
\text { Maximum } \
\underline {\text { Contribution }}
\end{array} & \begin{array}{c}
\text { Maximum } \
\underline {\text { Deduction }}
\end{array} \
a. \$ 11,000 & \$ 11,000\
b.\$ 11,000 & \$  -0-\
c.\$ 11,000 & \$  5,500 \
d.\$ 5,500 & \$  -0-  \
e.\$ 8,000 & \$ 8,000
\end{array}$

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 $91,000.Determine the maximum IRA contribution and deduction amounts.
$\begin{array}{cl}
\begin{array}{c}
\text { Maximum } \
\underline {\text { Contribution }}
\end{array} & \begin{array}{c}
\text { Maximum } \
\underline {\text { Deduction }}
\end{array} \
a. \$ 11,000 & \$ 11,000\
b.\$ 11,000 & \$  -0-\
c.\$ 11,000 & \$  5,500 \
d.\$ 5,500 & \$  -0-  \
e.\$ 8,000 & \$ 8,000
\end{array}$

Dan and Dawn Are Married and File a Joint Return