How much of that contribution is tax-deductible

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Question: Gene and Dixie, husband and wife (ages 35 and 32), both work. They have an adjusted gross income of $50,000 in 2014, and they are filing a joint income tax return. Both have employer-provided retirement plans at work. What is the maximum IRA contribution they can make? How much of that contribution is tax-deductible?

Reference no: EM131486832

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