Why weren't we eligible to contribute to traditional IRA? Our AGI for 2017 was $123,500, we're fillling married jointly, TurboTax page said, not eligible for tIRA, why?
Thanks, I got confused between roth and traditional limits.
Hal_Al
Level 15
Jun 4, 2019 5:50:52 PM
You are eligible to contribute to a traditional IRA, no matter what your income. The ability to deduct what you contributed is controlled by AGI and whether you and/or your spouse have a retirement plan at work, including 401k.