What maximum contribution to individual retirement account


Question: In 2022, Nick and Amy are married, and both are 35 years old. Their filing status is Married Filing Joint. Nick does not work and has no wage income. Amy is employed, and has $95,000 in wage income. In 2022, Nick and Amy's Adjusted Gross Income is $95,000. Amy is an active participant in a pension plan with her employer. In 2022, what is the maximum contribution to Nick and Amy's Individual Retirement Account (IRA) that would be fully deductible? Group of answer choices $6,000 $0 $9,000 $12,000

 

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Accounting Basics: What maximum contribution to individual retirement account
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