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What is the maximum amount Gene can contribute

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Problem - Gene, age 34, and Beth, age 32, have been married for nine years. Gene, who is a college student, works part-time and earns $1,500. Beth is a high school teacher and earns a salary of $34,000. Their AGI is $37,000.

Required -

a. What is the maximum amount Gene can contribute to an IRA in 2019?

b. What is the maximum amount Beth can contribute to an IRA in 2019?

Reference no: EM132673278

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