One of us is covered by a retirement plan at work so we should fall into the MAGI under $218,000 for tranditional IRA contributions.

Hello,

 

We would like to contribute $7,500 each (MFJ) into a traditional IRA before 4-15-24.  That section in turbo tax indicates that our MAGI is over $136,000 so we don't qualify.  But, only one of us is covered by a retirement plan so it seems we should fall into the $218,000 or less category.  Also, can we contribute between 1-1-24 and 4-15-24 or did it need to be regular contributions to qualify?  Thank you for the help!

 

Dan