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What is the maximum deductible contribution

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Reference no: EM132935047

Question - Bixby and Brianna are married filing jointly for 2020 both are over 50 years old. Bixby participates in his employers 401 (k) plan at work and has w-2 income of $61,000. Brianna's employer does not offer a retirement plan and she has income of $60,000 on her W-2. What is the maximum deductible contribution that each of them can make to their regular IRA for 2020?

Reference no: EM132935047

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