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URL:  http://boards.fool.com/my-wife-and-i-make-80kyr-she-was-not-eligible-10148844.aspx

Subject:  Re: 1997 - IRA contribution Date:  4/8/1998  9:46 AM
Author:  TMFTaxes Number:  3328 of 121061

[[my wife and I make 80K/yr. She was not eligible for
401 K contribution with her company last year(1997)

I contributed to 401K.

Is there any way she make a TAx deductible IRA contribution for 1997?

I know that the rules have been changed for 1998
( < 150K and one spouse not eligible etc.).]]

Right...the rules WERE changed for 1998. But, as you know, that doesn't help you right now. And since at least YOU were a participant in a qualified pension/profit sharing plan, your IRA deduction will be eliminated if your AGI is greater than $50k. Since you have noted that your AGI is $80k, it looks like any IRA contribution for 1997 will be non-deductible.

TMF Taxes
Roy
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