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BatBanker
New Member

Can I deduct a traditional IRA contribution in my spouses name on my joint return for my spouse who does not work and does not have income attributed to her.

 
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6 Replies
Phillip1
New Member

Can I deduct a traditional IRA contribution in my spouses name on my joint return for my spouse who does not work and does not have income attributed to her.

Yes. As long as you have earned income, your wife can make deductible IRA contributions.

See below and at this site for an explanation for IRA contribution rules:

Spousal IRAs

If you file a joint return, you may be able to contribute to an IRA even if you did not have taxable compensation as long as your spouse did. The amount of your combined contributions can’t be more than the taxable compensation reported on your joint return. See the formula in IRS Publication 590-A.

If neither spouse participated in a retirement plan at work, all of your contributions will be deductible.

Can I deduct a traditional IRA contribution in my spouses name on my joint return for my spouse who does not work and does not have income attributed to her.

With a retirement plan, whether it is deductible will depend on your income level.
Phillip1
New Member

Can I deduct a traditional IRA contribution in my spouses name on my joint return for my spouse who does not work and does not have income attributed to her.

Yes, that and whether your work offers a retirement plan. There are higher income limits if there is no plan from your employer.
BatBanker
New Member

Can I deduct a traditional IRA contribution in my spouses name on my joint return for my spouse who does not work and does not have income attributed to her.

I work and have a 401k I participate in. So plenty of income with my w2.    She doesn't work so no employer for her or income.   We file jointly.   I want to take $5500 from joint checking and put it in her traditional IRa.   Turbo tax lets me make the entry and it saves me in taxes.
Phillip1
New Member

Can I deduct a traditional IRA contribution in my spouses name on my joint return for my spouse who does not work and does not have income attributed to her.

The income limit for your spouse with you being covered at work is 184,000 dollars in MAGI.
BatBanker
New Member

Can I deduct a traditional IRA contribution in my spouses name on my joint return for my spouse who does not work and does not have income attributed to her.

I am under the $184,000.
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