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Escobar and Rose are both age 36 and file a joint return. Neither is covered under an employer plan. Escobar earned $121,000 of compensation in 2018. Rose worked part-time and earned $1,200. What is the
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Escobar and Rose are both age 36 and file a joint return. Neither is covered under an employer plan. Escobar earned $121,000 of compensation in 2018. Rose worked part-time and earned $1,200. What is the maximum combined deductible IRA contribution they can make in 2018?

User Umair Abid
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5 votes

Answer:

The maximum combined deductible IRA contribution of Escobar and Rose can make in 2018 is $11,000

Step-by-step explanation:

$5.500 per person is the maximum deductible IRA contribution they can make in 2018 according to the regular legislation.

$5.500 of Escobar + $5.500 of Rose = $1.000

User Edy
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