Why cant i deduct an IRA contribution? I don't have a 401K at work, but my wife does. Our MAGI is over $121,000. Its my IRA. Is it because she has a retirement plan and work that is preventing the deduction?
Yes, you can't deduct the IRA contribution since your wife was covered by a retirement plan at work and your MAGI is over $199,000.
Please see 2018 IRA Contribution and Deduction Limits for detailed information.
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