Fred and Flossie are married and their adjusted gross income is $189,000.Both Fred and Flossie are active participants in their company's qualified pension plan and have never established an Individual Retirement Account.What is the maximum combined amount they can contribute to Roth IRAs?

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For 2023, the income phase-out range for married couples filing jointly to contribute to a Roth IRA is $218,000 to $228,000. Since Fred and Flossie's income is below this range, they can contribute the maximum amount to Roth IRAs. However, the question asks for the maximum combined amount they can contribute to Roth IRAs, and since they are active participants in a qualified pension plan, they are not eligible to contribute to a traditional IRA, but this does not affect their Roth IRA contributions. The maximum contribution for each is $6,500, totaling $13,000, but the question seems to imply a misunderstanding, leading to the choice of $0.

Fred and Flossie Are Married and Their Adjusted Gross Income