Coleen3
Intuit Alumni

Retirement tax questions

Yes, up to the amount of income limits for spousal IRAs but only if the following applies.

If you or your spouse is covered by a retirement plan at anytime (even 1 day) during the year, your IRA contributions may be limited. It does not matter if the coverage was before/after the establishment of IRA.

See link below for the income limits if covered by a retirement plan at work.

From <https://ttlc.intuit.com/questions/3874636-my-employer-offered-a-retirement-plan-for-part-of-last-yea...>

Kay Bailey Hutchison Spousal IRA Limit

For 2018, if you file a joint return and your taxable compensation is less than that of your spouse, the most that can be contributed for the year to your IRA is the smaller of the following two amounts:

  1. $5,500 ($6,500 if you are age 50 or older), or
  2. The total compensation includible in the gross income of both you and your spouse for the year, reduced by the following two amounts.
  1. Your spouse's IRA contribution for the year to a traditional IRA.
  2. Any contributions for the year to a Roth IRA on behalf of your spouse.

This means that the total combined contributions that can be made for the year to your IRA and your spouse's IRA can be as much as $11,000 ($12,000 if only one of you is age 50 or older or $13,000 if both of you are age 50 or older).

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