Juan, age 41, earns a salary of $28,000 and is not an active participant in any other qualified plan. His wife, Agnes, has no earned income. What is the maxi-mum total deductible contribution to their IRAs

Respuesta :

Answer:

$11,000

Explanation:

Traditional Roth IRA accounts can only be made by individuals who make less than $139,000 a year or by a couple that makes less than $206,000 when making a joint account. Those that meet that requirement are able to contribute a maximum of $5,500 per individual into the account. Since Juan's salary does not surpass the limit and his wife has no earned income. Then they can contribute a grand total of $11,000 into the account which would be $5,500 each.

5,500 + 5,500 = 11,000

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