Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev | Next
Author: stockmover Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 120811  
Subject: 2009 IRA Contribution Elegibility Date: 8/30/2009 12:12 AM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
Hi everyone

I wanted to confirm my 2009 IRA tax strategy within our traditional IRA's with the TMF tax experts on this board. My wife and I will be filing MFJ for 2009. Our combined AGI will be less than $80K. We are both over 50 and we live in AZ .. a community property state. My income is NOT "earned income" since it is solely derived from a pension, SS retirement and interest/dividends. However, my wife's income IS earned income (about $45K)from gainful employment. My understanding is that I can contribute $6K [tax deductible] to my IRA and my wife can also contribute $6k [tax deductible] to her IRA for 2009. Is this correct?
Thank you for your help?

~TG~
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (15) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Tax Strategies

TMFPMarti-Feeling Good
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement