Mick and Sally are 50 years of age and are married filing jointly. Their 2020...
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Accounting
Mick and Sally are 50 years of age and are married filing jointly. Their 2020 adjusted gross income is $110,000, which includes Mick's salary of $126,500. Sally had no income. Neither spouse was covered by an employer-sponsored pension plan. What could they contribute to IRAs for 2020 in order to take advantage of their maximum allowable IRA deduction on their 2020 tax return?
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