Concerning IRA contributions, my wife and I are both retired collecting from a qualified retirement plan and social security. my wife went back to work

[vlg49]

her new job does not have a retirement plan. turbotax is asking if covered by a retirement plan? Is this pertaining to new employer or previous employer? Does the MAGI rule apply as to how much of the IRA contributions are deductible?

[RichardK · Accepted solution]

If you and your wife are not CONTRIBUTING to a retirement plan, answer NO. If neither of you are contributing to a retirement plan, the MAGI rules for IRA's do not apply.