I am using Premier (desktop). My wife is covered by a retirement plan at work (403b). I am not covered at work. Our AGI is $128,213. (we had none of the items listed to add for MAGI, so I believe our MAGI is the same as AGI) We are married filing jointly. In our case, only one spouse is covered by a retirement plan at work, so shouldn't the IRA deduction be phased out at $196,000, not $124K.
However when using TT Premier and answering all the IRA questions it specifically says my wife's MAGI is too high, over $124K) so she cannot get a deduction. If we are filing jointly and only one of us is covered by a retirement plan at work shouldn't the limit be $196K? What am I missing in her MAGI? Is it looking at her income only or our combined income?
