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Problem 1: Jack (age 45) and Jill (age 42) are married, and their filing status is Married Filing Jointly. Jack is an engineer, and Jill is a homemaker. During 2019, Jack had wages of $115,000 and was covered by a retirement plan at work. They also had interest income of $2,850 and dividend income of $8,580. Jack contributed $6,000 to his traditional IRA account. Jill contributed $3,500 to her traditional account and $2,500 to her Roth IRA account. What amount would their IRA deduction be for the year?
Select one:
a. $ 3,500b. $ 6,000c. $ 9,000 d. $11,000
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