topic Married, filing joint, both over 50, checking IRA contribution limits: AGI is 172,412, MAGI wks indicates MAGI is 144,543 (is that possible?) How much can we contribute? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/married-filing-joint-both-over-50-checking-ira-contribution-limits-agi-is-172-412-magi-wks-indicates/01/612143#M57461 Thu, 06 Jun 2019 06:16:00 GMT dvbrand 2019-06-06T06:16:00Z Married, filing joint, both over 50, checking IRA contribution limits: AGI is 172,412, MAGI wks indicates MAGI is 144,543 (is that possible?) How much can we contribute? https://ttlc.intuit.com/community/retirement/discussion/married-filing-joint-both-over-50-checking-ira-contribution-limits-agi-is-172-412-magi-wks-indicates/01/612143#M57461 Thu, 06 Jun 2019 06:16:00 GMT https://ttlc.intuit.com/community/retirement/discussion/married-filing-joint-both-over-50-checking-ira-contribution-limits-agi-is-172-412-magi-wks-indicates/01/612143#M57461 dvbrand 2019-06-06T06:16:00Z To a Roth IRA or traditional IRA? https://ttlc.intuit.com/community/retirement/discussion/to-a-roth-ira-or-traditional-ira/01/612151#M57462 To a Roth IRA or traditional IRA? Thu, 06 Jun 2019 06:16:02 GMT https://ttlc.intuit.com/community/retirement/discussion/to-a-roth-ira-or-traditional-ira/01/612151#M57462 DanaB 2019-06-06T06:16:02Z Both; want to put 6500 in Roth for him, 1000 in Roth + 55... https://ttlc.intuit.com/community/retirement/discussion/both-want-to-put-6500-in-roth-for-him-1000-in-roth-55/01/612158#M57463 Both; want to put 6500 in Roth for him, 1000 in Roth + 5500 in Trad for her.&nbsp;&nbsp;Is that OK?&nbsp;&nbsp;Also, is it OK for MAGI to be less than AGI? Thu, 06 Jun 2019 06:16:03 GMT https://ttlc.intuit.com/community/retirement/discussion/both-want-to-put-6500-in-roth-for-him-1000-in-roth-55/01/612158#M57463 dvbrand 2019-06-06T06:16:03Z Yes, that should be ok. For the Roth as long as your MAGI... https://ttlc.intuit.com/community/retirement/discussion/yes-that-should-be-ok-for-the-roth-as-long-as-your-magi/01/612164#M57464 <P>Yes, that should be ok. For the Roth as long as your MAGI is&nbsp;<SPAN>&lt; $189,000 then you can contribute up&nbsp;to the max limit, $6,500 in your case.&nbsp; For the traditional IRA, you can contribute the $5,500 but if you were covered by retirement plans at work your <STRONG>deduction</STRONG> might be limited. Please see below:</SPAN></P> <UL> <LI><A href="https://www.irs.gov/retirement-plans/plan-participant-employee/2018-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-covered-by-a-retirement-plan-at-work" target="_blank" rel="nofollow noopener">IRA Deduction if You ARE Covered by a Retirement Plan at Work</A>&nbsp;- 2018</LI> <LI><A href="https://www.irs.gov/retirement-plans/plan-participant-employee/2018-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-not-covered-by-a-retirement-plan-at-work" target="_blank" rel="nofollow noopener">IRA Deduction if You Are NOT Covered by a Retirement Plan at Work</A>&nbsp;- 2018&nbsp;(deduction is limited only if your spouse IS covered by a retirement plan)</LI> </UL> Fri, 13 Mar 2020 22:57:53 GMT https://ttlc.intuit.com/community/retirement/discussion/yes-that-should-be-ok-for-the-roth-as-long-as-your-magi/01/612164#M57464 DanaB 2020-03-13T22:57:53Z
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topic Married, filing joint, both over 50, checking IRA contribution limits: AGI is 172,412, MAGI wks indicates MAGI is 144,543 (is that possible?) How much can we contribute? in Retirement tax questions
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https://ttlc.intuit.com/community/retirement/discussion/married-filing-joint-both-over-50-checking-ira-contribution-limits-agi-is-172-412-magi-wks-indicates/01/612143#M57461
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Married, filing joint, both over 50, checking IRA contribution limits: AGI is 172,412, MAGI wks indicates MAGI is 144,543 (is that possible?) How much can we contribute?
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https://ttlc.intuit.com/community/retirement/discussion/married-filing-joint-both-over-50-checking-ira-contribution-limits-agi-is-172-412-magi-wks-indicates/01/612143#M57461
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<title>To a Roth IRA or traditional IRA?</title>
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<dc:date>2019-06-06T06:16:02Z</dc:date>
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Both; want to put 6500 in Roth for him, 1000 in Roth + 55...
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https://ttlc.intuit.com/community/retirement/discussion/both-want-to-put-6500-in-roth-for-him-1000-in-roth-55/01/612158#M57463
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Both; want to put 6500 in Roth for him, 1000 in Roth + 5500 in Trad for her.&nbsp;&nbsp;Is that OK?&nbsp;&nbsp;Also, is it OK for MAGI to be less than AGI?
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<pubDate>Thu, 06 Jun 2019 06:16:03 GMT</pubDate>
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https://ttlc.intuit.com/community/retirement/discussion/both-want-to-put-6500-in-roth-for-him-1000-in-roth-55/01/612158#M57463
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<dc:creator>dvbrand</dc:creator>
<dc:date>2019-06-06T06:16:03Z</dc:date>
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Yes, that should be ok. For the Roth as long as your MAGI...
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https://ttlc.intuit.com/community/retirement/discussion/yes-that-should-be-ok-for-the-roth-as-long-as-your-magi/01/612164#M57464
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<P>Yes, that should be ok. For the Roth as long as your MAGI is&nbsp;<SPAN>&lt; $189,000 then you can contribute up&nbsp;to the max limit, $6,500 in your case.&nbsp; For the traditional IRA, you can contribute the $5,500 but if you were covered by retirement plans at work your <STRONG>deduction</STRONG> might be limited. Please see below:</SPAN></P> <UL> <LI><A href="https://www.irs.gov/retirement-plans/plan-participant-employee/2018-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-covered-by-a-retirement-plan-at-work" target="_blank" rel="nofollow noopener">IRA Deduction if You ARE Covered by a Retirement Plan at Work</A>&nbsp;- 2018</LI> <LI><A href="https://www.irs.gov/retirement-plans/plan-participant-employee/2018-ira-contribution-and-deduction-limits-effect-of-modified-agi-on-deductible-contributions-if-you-are-not-covered-by-a-retirement-plan-at-work" target="_blank" rel="nofollow noopener">IRA Deduction if You Are NOT Covered by a Retirement Plan at Work</A>&nbsp;- 2018&nbsp;(deduction is limited only if your spouse IS covered by a retirement plan)</LI> </UL>
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<pubDate>Fri, 13 Mar 2020 22:57:53 GMT</pubDate>
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https://ttlc.intuit.com/community/retirement/discussion/yes-that-should-be-ok-for-the-roth-as-long-as-your-magi/01/612164#M57464
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<dc:creator>DanaB</dc:creator>
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