T IRA partial deduction

[hkhk]

Hi!

I have T-IRA (no 401k available from work) & my spouse has Roth IRA (401k available & contributing).

We file jointly & MAGI <= 198k, but there's a chance that we fall into the next bracket (say, 200K, knowing the ranges may change in the future) soon.

Then should I keep contributing $6000 to T-IRA, get partial deduction, and the rest no deduction? I am wondering if there is any benefit to open up a new Roth IRA account and start contributing partially.

Using the calculator, it looks like I can get $4800 T IRA deductible OR $4800 Roth IRA contribution amount. Then is there a way to contribute $4800 to T IRA & $1200 to Roth IRA? Or would you suggest putting $6000 to T IRA and only get $4800 deduction?

Thanks!!

[Critter-3 · Accepted solution]

$4800 to T IRA & $1200 to Roth IRA would max out the investment opportunities however wait until the end of the year or early next year until you know your total income for the year so you know how much you can deduct first then put the rest into a ROTH.