How much of a deduction do they get to take

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Reference no: EM133910980

Problem

Kenzy and Derek (married filing jointly) have $180,000 in total income. They both have retirement plans at work. Get the instant assignment help. How much of a deduction (above-the-line) do they get to take if Derek contributes $5,000 to his IRA and Kenzy contributes $6,000 to her Roth IRA?

Reference no: EM133910980

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