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Ed and Cathy, both under age 50, file a joint return. Neither is covered under...

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Accounting

Ed and Cathy, both under age 50, file a joint return. Neither is covered under an employer pension plan. Cathy earned compensation of $56,500 in 2018. Ed worked part-time and earned $1,410. What is the maximum deductible IRA contribution they can make in 2018?

  • $11,000.

  • $6,910.

  • $0.

  • $5,500.

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