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| "woessner[at]gmail.com" <woessner[at]gmail.com> writes: - quote - > > In a married filing jointly scenario, where can i find documentation
Ah ha! Thanks a ton Bill. I knew it had to be in there somewhere,> > of how one spouse having an employer 401k plan affects eligibility for > > IRA's, specifically whether the contribution would be deductible? > Pub 590, table 1-3. and I was just overlooking it. That answers my question. -- Todd H. http://www.toddh.net/ |
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| - quote - > In a married filing jointly scenario, where can i find documentation
Pub 590, table 1-3.> of how one spouse having an employer 401k plan affects eligibility for > IRA's, specifically whether the contribution would be deductible? - quote - > I'm pretty sure having a 401k still allows a roth IRA contribution for
It's not the regular AGI. You need to consider the modified AGI> both spouses, assuming agi is < 160k for the household. (MAGI). It's also described in Pub 590. A full contribution is allowed for MAGI < $150K and is phased out between $150K and $160K. - quote - > Here's what I'm wondering-- Could a traditional IRA contribution for a
Yes. A full deduction is allowed for MAGI < $150K and is phased out> non-working spouse be deductible if the other spouse is covered by an > employer 401k? for between $150K and $160K. --Bill |
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| In a married filing jointly scenario, where can i find documentation of how one spouse having an employer 401k plan affects eligibility for IRA's, specifically whether the contribution would be deductible? I'm pretty sure having a 401k still allows a roth IRA contribution for both spouses, assuming agi is < 160k for the household. Here's what I'm wondering-- Could a traditional IRA contribution for a non-working spouse be deductible if the other spouse is covered by an employer 401k? I'm wading through irs pub 529 and haven't found the right mix of info to determine. Best Regards, -- Todd H. http://www.toddh.net/ |
| Tags |
| 401k, eligibility, ira, relation |
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