Isabelle and Marshall are married with salaries of $50,000 and $45,000,respectively.Adjusted gross income on their jointly filed tax return is $102,000.Both individuals are active participants in employer provided qualified pension plans.What are Isabelle and Marshall's maximum combined IRA contribution and deduction amounts?
$\begin{array}{ll}
\text { Contribution } & \text { Deduction } \
a.\$-0- & \$-0- \
b.\$ 11,000 & \$ 2,500\
c.\$ 11,000 & \$ 5,500 \
d.\$ 11,000 & \$ 7,500 \
e.\$ 11,000 & \$ 11,000
\end{array}$

Question

Isabelle and Marshall are married with salaries of $50,000 and $45,000,respectively.Adjusted gross income on their jointly filed tax return is $102,000.Both individuals are active participants in employer provided qualified pension plans.What are Isabelle and Marshall's maximum combined IRA contribution and deduction amounts?
$\begin{array}{ll}
\text { Contribution } & \text { Deduction } \
a.\$-0- & \$-0- \
b.\$ 11,000 & \$ 2,500\
c.\$ 11,000 & \$ 5,500 \
d.\$ 11,000 & \$ 7,500  \
e.\$ 11,000 & \$ 11,000
\end{array}$

Quizplus · Accepted Answer

The Answer of Isabelle and Marshall are married with salaries of $50,000 and $45,000,respectively.Adjusted gross income on their jointly filed tax return is $102,000.Both individuals are active participants in employer provided qualified pension plans.What are Isabelle and Marshall's maximum combined IRA contribution and deduction amounts?
$\begin{array}{ll}
\text { Contribution } & \text { Deduction } \
a.\$-0- & \$-0- \
b.\$ 11,000 & \$ 2,500\
c.\$ 11,000 & \$ 5,500 \
d.\$ 11,000 & \$ 7,500  \
e.\$ 11,000 & \$ 11,000
\end{array}$

Isabelle and Marshall Are Married with Salaries of $50,000 and $45,000,respectively.Adjusted