Rachel_W
Expert Alumni

Retirement tax questions

Yes, you can make a deductible Traditional IRA Contribution if you were under age 70 1/2 as of 12/31/18 and filing as Single or Head of Household.

However, if you are filing Married Filing Jointly and your spouse is covered by a employer sponsored retirement plan, the ability to make a deductible Traditional IRA Contribution phases out when your Modified Adjusted Gross Income is between $189,000 and $199,000.

If you are Married Filing Separately, the phaseout range is when your MAGI is between $0 and $10,000.

If qualified, you can contribute the lesser of $5,500 ($6,500 if over age 50) or your earned income.

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