dmertz
Level 15

Retirement tax questions

The RMD age change under the SECURE Act only applies to those reaching age 70½ after 2019.

 

Yes, your wife can contribute to an IRA based on your compensation as long and you file a joint tax return.  If the contribution is for 2019 she must also be under age 70½; for contributions for 2020 and beyond there is no age limit.  Whether or not a contribution to a traditional IRA will be deductible will depend on your modified AGI for the purpose and whether or not you yourself are covered by a workplace retirement plan.

View solution in original post