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Pablo and his wife Hernia are both age 50. Their combined AGI is $75,000. Neither...

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Accounting

Pablo and his wife Hernia are both age 50. Their combined AGI is $75,000. Neither is a participant in an employer-sponsored retirement plan. They have been contributing to a traditional IRA for many years and have built up an IRA balance of $100,000. They are considering rolling the traditional IRA into a Roth IRA. Required: Is the couple eligible to make the conversion? Assume that the couple does not make the conversion but, instead, establishes a separate Roth IRA

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