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Dan and Dawn Are Married and File a Joint Return  Maximum  Maximum  Contribution  Deduction \begin{array} { c c } \text { Maximum }&\text { Maximum } \\\text { Contribution }&\text { Deduction }\end{array}

Question 92

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Dan and Dawn are married and file a joint return. During the current year, Dan had a salary of $30,000 and Dawn had a salary of $36,000. Both Dan and Dawn are covered by an employer-sponsored pension plan. Their adjusted gross income for the year is $100,000. Determine the maximum IRA contribution and deduction amounts.
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 Maximum  Maximum  Contribution  Deduction \begin{array} { c c } \text { Maximum }&\text { Maximum } \\\text { Contribution }&\text { Deduction }\end{array}
A) $11,000$11,000\begin{array} { c c } \$ 11,000 &&&& \$11,000 \\\end{array}
B) $11,000$−0−\begin{array} { c c } \$ 11,000 &&&& \$-0- \\\end{array}
C) $11,000$5,500\begin{array} { c c } \$11,000 &&&& \$ 5,500 \\\end{array}
D) $5,500$−0−\begin{array} { c c } \$ 5,500 &&&& \$ -0-\\\end{array}
E) $8,000$8,000\begin{array} { c c }\$ 8,000 &&&& \$ 8,000\end{array}

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