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What is the maximum deductible contribution they can make

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Reference no: EM132945387

Question - Roger and Camilla are both married and file their taxes together. Roger is 31 and Camilla 27. Their combined income is $113,500.

After analyzing their finances, they concluded that they need to save more for retirement even though they are both part of employer -sponsored retirement plans.

1. What is the maximum deductible contribution they can make to a Traditional IRA?

2. What is the maximum contribution they can make to a Roth IRA?

Reference no: EM132945387

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