Re: why can't I contribute to an IRA when my wife ...
macuser_22
Level 15

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.**
This widget could not be displayed.
Privacy Settings