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Not applicable
posted Aug 5, 2019 10:44:52 AM

IRA Tax Deductible Contribution Eligibility when 1 spouse is enrolled in n employer 401k plan

Is the modified AGI as per the IRS guidance below (on IRA tax-deductible contributions eligibility) referring to combined modified AGI (including spouse who is enrolled in a 401k plan) OR only the individual's modified AGI? Assume that the couple is filing a joint return.

 

"If you are married and your spouse is covered by a retirement plan at work and you aren’t, and you live with your spouse or file a joint return, your deduction is phased out if your modified AGI is more than $193,000 (up from $189,000 for 2018) but less than $203,000 (up from $199,000 for 2018). If your modified AGI is $203,000 or more, you can’t take a deduction for contributions to a traditional IRA."

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2 Replies
Level 15
Aug 5, 2019 11:01:04 AM

There is only one MAGI on a joint return with it the combined income of both spouses.

Not applicable
Aug 5, 2019 12:39:19 PM

thanks