Why is Turbo Tax suggesting an IRA contribution (2018) for my wife of $714 when Fidelity shows the income limit to open an IRA is below what we are reporting for 2018?
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Why is Turbo Tax suggesting an IRA contribution (2018) for my wife of $714 when Fidelity shows the income limit to open an IRA is below what we are reporting for 2018?
Turbo Tax indicates we will save $192 if she makes a $714 contribution to a traditional IRA for last year. Is our retirement income treated differently as far as income limits for IRA eligibility?
Why is Turbo Tax suggesting an IRA contribution (2018) for my wife of $714 when Fidelity shows the income limit to open an IRA is below what we are reporting for 2018?
You have to have earned income to o an IRA, so it can;t be retirement income.
So if your wife has at least $714 of earned income and is below 70 1/2 years old.
Why is Turbo Tax suggesting an IRA contribution (2018) for my wife of $714 when Fidelity shows the income limit to open an IRA is below what we are reporting for 2018?
You have to have earned income to o an IRA, so it can;t be retirement income.
So if your wife has at least $714 of earned income and is below 70 1/2 years old.
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