Quick question (hopefully).
We are Married Filing Jointly. This year we end in the partial deduction range for a traditional IRA allowing us to deduct 5500 of 11000 contributions. As I understand, this gives us 5500 for Roth IRA and 5500 for traditional. My question is, do we need to split the deductible amount between us? Does it need to be 2750 Trad/2750 Roth IRA for me and 2750 Trad/2750 Roth IRA for DH? Or can I do 5500 Roth IRA for me and DH do 5500 Trad IRA for him?
I think I may have screwed this up in the past. And currently I have no traditional IRA so I wanted to make sure I had it right.
