The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/ltltmy-wife-and-i-make-80kyr-she-was-not-10149204.aspx

Subject:  Re: 1997 - IRA contribution Date:  4/8/1998  4:07 PM
Author:  KATinChicagoland Number:  3351 of 121219

<<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?>>

Roy's response was correct, of course. I would add that you may find that a nondeductible contribution to a Roth IRA is just as good as, or better than, a deductible contribution to a regular IRA. And it would certainly be better than a nondeductible contribution to a regular IRA.

KAT in Chicagoland
http://www.fairmark.com
Tax Guide for Investors
Includes the latest information on
Roth IRA technical corrections

Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us