1663931
You'll need to sign in or create an account to connect with an expert.
Were you covered by a retirement plan at work? If so, there are modified AGI (MAGI) income phaseouts based on filing status. They are below:
MFJ, QW: $103,000 to $ 123,000
Single, HOH: $64,000 to $ 74,000
MFS: $0 to $ 10,000
Spouse not covered by employer: $193,000 to $ 203,000
The phaseouts only apply to the eligibility to deduct the traditional IRA contribution, not to the eligibility to make the contribution. To be eligible to make the contribution you must have sufficient compensation (generally income in box 1 of a W-2 minus any amount in box 11, or net earnings from self-employment), and for 2019 you cannot have reached age 70½ or over in 2019.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
susan-stigant
New Member
vor17tex
Level 2
les_matheson
Level 2
dmertz
Level 15
TheSchulteMeistr
Returning Member