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Investors & landlords
e.g. If we are filing as MFJ and our MAGI is 170K . Earning Spouse on H1B Visa has 401K from employer and non working Spouse on H4 (without EAD) obviously does not have any income/401K account.
Question is for 2024 Tax filing-->
1. How much earning spouse can contribute to Traditional IRA with the benefit of tax deduction.
2. How much non-earning spouse can contribute (through earning spouse with Spousal Traditional IRA account) to Traditional IRA with the benefit of tax deduction.
‎January 7, 2025
10:03 PM