Author Topic: Spousal IRA Deductible  (Read 232 times)

Heroes821

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Spousal IRA Deductible
« on: October 09, 2017, 11:16:26 AM »
Quick question fellow Mustaches.  I am having a hell of a time making sure that my wife's IRA contributions will be deductible.  She has been a no-income SAHM this year.  I've heard there is a cap on income to deduct contributions for her, but I'm having trouble locating it on irs.gov.


Also, when determining if you qualify for a Roth IRA for the year, without plowing through the tax forms is a quick calculation just: total income minus 401k, minus hsa?


seattlecyclone

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Re: Spousal IRA Deductible
« Reply #1 on: October 09, 2017, 03:25:13 PM »
Here's what you're looking for.

If you have a retirement plan at work, the deduction phase-out for her begins at $186k MAGI. If you don't have a retirement plan at work, she can deduct a traditional IRA contribution at any income level.

Your own limits will be different.
I made a blog! https://seattlecyclone.com/

The Roth IRA was named after William Roth, who represented Delaware in the US senate from 1971-2001. "Roth" is a name, not an acronym. There's no need to capitalize the final three letters.

Heroes821

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Re: Spousal IRA Deductible
« Reply #2 on: October 10, 2017, 06:16:09 AM »
Thanks Seattlecyclone.