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Retirement tax questions
You can always contribute to a Traditional IRA if is there is sufficient joint taxable compensation. However, it might not be deductible if your joint MAGI exceeds the limit if one spouse is covered by a retirement plan.
See this IRS link for Traditional IRA deduction limits when covered by a retirement plan at work.
https://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎June 27, 2020
8:59 PM