I earn $0 and my wife earns $100k? If so, is my contribution tax deductible?
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- posted
17 years ago
Can I contribute to an IRA if ....
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- posted
17 years ago
If you file Married Filing Joint, your wife can contribute to a spousal IRA in your name. Whether it will be deductible depends on information not given, such as whether your wife is covered by an employer's retirement plan at work. Provide additional information and we'll try to give you a more detailed answer.
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- posted
17 years ago
As long as she has enough earned income to cover your contribution, you can contribute to an IRA. If you are not covered by a retirement plan, you can generally deduct your contribution. However, if your wife is covered by a plan and your modified AGI is over $150,000, your ability to deduct your contribution may be limited. Dennis
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- posted
17 years ago
More info please. Is your wife covered by a pension plan where she works? ChEAr$, Harlan Lunsford, EA n LA
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- posted
17 years ago
Wife has a IRA 401k from employer, AGI is likely around $150K. To complcate: we are in Australia, Americans working for an Australian subsidiary of a US firm.
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