For 2020 I had a net self employment income of $12,000 <all numbers are approx>
Schedule 1 Adjustments to income
** Ded part of SE tax = $800
** SE health ins ded = $7,000
My wife had $26,000 in W2 income and $0 in any other retirement plan
I assume my wife can put the max of $7,000 since she is 50+ age
How much can I put into an IRA ?
I am 50+ and have no other "earned income"
i.e. does the $7,800 in SE deductions above count in the IRA Max Equation ??
Many thanks,
Tom
