Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are active participants in employer qualified retirement plans. Their total AGI in 2021 is $201,000, and they earn salaries of $89,000 and $95,000, respectively. Click here to access Exhibit 9.1. Compute the following amounts. If an amount is zero, enter "0". Do not round intermediate computations. a. The amount each can contribute to a regular IRA. b. The amount each can deduct for regular IRA contributions. C. The amount each can contribute to a Roth IRA. d. The amount each can deduct for Roth IRA contributions. Amount 0000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are active participants in employer qualified
retirement plans. Their total AGI in 2021 is $201,000, and they earn salaries of $89,000 and $95,000, respectively.
Click here to access Exhibit 9.1.
Compute the following amounts. If an amount is zero, enter "0". Do not round intermediate computations.
a.
b.
C.
The amount each can contribute to a regular IRA.
The amount each can deduct for regular IRA contributions.
The amount each can contribute to a Roth IRA.
d. The amount each can deduct for Roth IRA contributions.
Amount
Transcribed Image Text:Carri and Dane, ages 34 and 32, respectively, have been married for 11 years, and both are active participants in employer qualified retirement plans. Their total AGI in 2021 is $201,000, and they earn salaries of $89,000 and $95,000, respectively. Click here to access Exhibit 9.1. Compute the following amounts. If an amount is zero, enter "0". Do not round intermediate computations. a. b. C. The amount each can contribute to a regular IRA. The amount each can deduct for regular IRA contributions. The amount each can contribute to a Roth IRA. d. The amount each can deduct for Roth IRA contributions. Amount
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