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1. Joyce, age 40, and Sam, age 42, who have been married for seven years, are...

1. Joyce, age 40, and Sam, age 42, who have been married for seven years, are both active participants in qualified retirement plans. Their total AGI for 2018 is $130,000. Each is employed and earns a salary of $65,000. What are their combined deductible contributions to traditional IRAs?

a. $0

b. $3,000

c. $4,000

d. $8,000

e. None of the above

2. Dana, age 31 and unmarried, is an active participant in a qualified retirement plan. Her AGI is $124,000. What amount, if any, may Dana contribute to a Roth IRA in 2018?

a. $0.
b. $3,225.
c. $4,033.
d. $5,500.
e. None of the above

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