Oliver, age 48, and Lucia, age 46, are married and file a joint tax return. Both are covered by their companies' pension plans. Which of the following statements regarding contributions they could make to a traditional IRA is NOT correct?

A) Both can make contributions to their own individual traditional IRAs.
B) There is a maximum deductible contribution limit involved with a traditional IR
C) Based on their modified AGI, they may have their deduction for contributions to a traditional IRA reduced (phased out).
D) Both can take advantage of the catch-up provision and contribute the catch-up amount in addition to the base amount.

Answer: D) Both can take advantage of the catch-up provision and contribute the catch-up amount in addition to the base amount.