Final answer:
Ashley Turner can contribute to her Roth IRA in 2022, but the contribution will be reduced due to her and Jackson's AGI being within the phase-out range. The maximum contribution limit is $6,000, but precise calculations are needed to determine the exact reduced amount they can contribute.
Step-by-step explanation:
The subject of the question revolves around the Roth IRA contribution limits based on Adjusted Gross Income (AGI) for a married couple filing jointly. For the year 2022, the income phase-out range for making Roth IRA contributions for married couples filing jointly is between $204,000 and $214,000. Since Jackson and Ashley Turner's AGI is $209,000, they fall within this phase-out range.
Ashley can still contribute to her Roth IRA, but the amount she can contribute will be reduced. To determine the exact reduced contribution amount, a calculation must be performed considering the range in which their AGI falls. Ashley and Jackson each earned half of the income, which suggests equal contribution eligibility for both based on their earnings. It is important to note that the actual applicable limits may be different, as IRA contribution limits are subject to change each year.
In 2022, the maximum Roth IRA contribution for those under the age of 50 is $6,000. Since Ashley and Jackson are 45 years old, this limit applies to them. To determine Ashley's reduced contribution amount, a calculation based on the phase-out range must be conducted. Unfortunately, without specific IRS guidelines for the reduction calculations in the question, we cannot provide the exact contribution amount. They should refer to the latest IRS instructions or consult a tax professional for precise calculations.