- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
"am I eligible to contribute to my IRA because I had work income in 23'?"
Yes.
"Can my wife make another spousal contribution as well as myself?"
Yes, assuming that you again file jointly for 2023.
The total of the IRA contributions for you and your wife for 2023 is not permitted to exceed your 2023 compensation. Assuming no income from self-employment, your compensation for 2023 is the amount in box 1 of your 2023 W-2 minus any amount in box 11.
‎February 17, 2024
8:58 AM