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Retirement tax questions
Yes, that should be ok. For the Roth as long as your MAGI is < $189,000 then you can contribute up to the max limit, $6,500 in your case. For the traditional IRA, you can contribute the $5,500 but if you were covered by retirement plans at work your deduction might be limited. Please see below:
- IRA Deduction if You ARE Covered by a Retirement Plan at Work - 2018
- IRA Deduction if You Are NOT Covered by a Retirement Plan at Work - 2018 (deduction is limited only if your spouse IS covered by a retirement plan)
‎June 5, 2019
11:16 PM