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. $0b. $3,000c. $4,000d. $8,000

$0

Explanation:

Based on the information given we were been told that their total AGI which is fully known as ADJUSTED GROSS INCOME for the year 2018 was the amount of $130,000 in which the standard AGI for the year 2018 was the amount of $121,000 which means that their 2018 AGI of $130,000 exceed the standard 2018 AGI of $121,000 based on this the amount of their combined deductible contributions to traditional IRAs will be $0 had it been their AGI did not exceed the standard 2018 AGI they would have both contributed the amount of $11,000 ($5,500 each) to the traditional IRA which is fully known as INDIVIDUAL RETIREMENT ACCOUNT.

Therefore what are their combined deductible contributions to traditional IRAs will be is $0

answer; ///retained

i would prefer to go with the news article for nate, its recent and updated and stores a lot of information