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

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."

posted

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

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**