Realizing that providing for a comfortable retirement is up to them, Jim and Julie commit to making regular contributions to their IRAs, beginning this year. Consequently, they each make a $2,000 contribution to their traditional IRa. If their AGI is $35,000 on their joint return, what is the amount of their credit for certain retirement plan contributions?
A) $2,000
B) $1,000
C) $400
D) $200

Question

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The Answer of Realizing that providing for a comfortable retirement is up to them, Jim and Julie commit to making regular contributions to their IRAs, beginning this year. Consequently, they each make a $2,000 contribution to their traditional IRa. If their AGI is $35,000 on their joint return, what is the amount of their credit for certain retirement plan contributions?
A) $2,000
B) $1,000
C) $400
D) $200

Realizing That Providing for a Comfortable Retirement Is Up to Them