Covered by a 401K at work; My income 93234 current job & 22540 military retirement. Wifes income 13797. Want open IRA for her with 5500 to help out our tax situation.
turbo tax accepted the deductibility but when I checked the rules for deductibility they were contradictory. it seems one rule says that because of my income and 401K we cannot but another rule said we could. what is correct. Again turbo tax program allowed the deduction. I am using Turbo Tax Premium program that I purchase yearly.