What is the maximum amount a 55-year-old taxpayer and 52-year-old spouse can put into a Traditional or Roth IRA for 2021, assuming they earn $70,000 in total and are not participants in pension plans?

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter5: Deductions For And From Agi
Section: Chapter Questions
Problem 13MCQ
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What is the maximum amount a 55-year-old taxpayer and 52-year-old spouse can put into a Traditional or Roth IRA for 2021, assuming they earn $70,000 in total and are not participants in pension plans?

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