Can I contribute to an ira or roth to the maximum and not deduct it ?

bddone · ‎June 6, 2019

Can I add up to the maximum for an IRA and not deduct it ?

KenH1 · ‎June 6, 2019

For traditional IRAs, yes. Anyone with earned income can contribute, but there are limitations for deducting it.

Roth IRAs are never deductible but you cannot contribute if your income is greater than:

$194,000 if Married Filing Jointly;

$132,000 for Single or Head of Household;

$10,000 if Married Filing Separately.

franlai · ‎June 6, 2019

"If the income is greater than $194,000" Is that gross income or Adjusted Gross Income?

KenH1 · ‎June 6, 2019

AGI

franlai · ‎June 6, 2019

Does a contractor's 1099 income count as "earned income"?

Retirement tax questions