Reply To: TIRA deductibility if MFJ and only one has no retirement plan

Home Fairmark Forum Retirement Savings and Benefits TIRA deductibility if MFJ and only one has no retirement plan Reply To: TIRA deductibility if MFJ and only one has no retirement plan

#2366
Alan S.
Participant

You each have your own modified AGI limits to make a deductible contribution. The MAGI that applies is from your joint return.
1) Since YOU are not an active participant, the MAGI phaseout range for you to take a deduction is 189k to 199k.
2) Since she IS an active participant, her ability to deduct a TIRA contribution phases out between 101k and 121k.
3) So it looks like YOU can take the deduction and she cannot, but she could make a Roth contribution instead. However, modified AGI can be quite different from Form 1040 AGI, so be sure you calculate modified AGI figures before making 2018 contributions.