Message Font: Serif | Sans-Serif
No. of Recommendations: 0
INFO for TMFTaxes & TMFExRO re: msg 39603

First of all Roy and Phil, I want to thank both of you for your help.

I guess what I was trying to say in my original message was......... that I contributed AND DEDUCTED a $2000 Traditional IRA contribution on my 1999 tax return under a filing status of Married-Filing Separately.

Secondly, I am presently NOT COVERED by a qualified retirement plan, although my wife IS covered under a qualified employer retirement plan.
Our combined AGI is for the 1999 tax year is $61,000.

Based on the additional information above.... is my $2000 Traditional IRA Contribution AND DEDUCTION for the 1999 Tax year correct and proper or is there still a problem with the deduction?

Btw Roy, I extensively researched the community property laws at both the Federal and State levels [including TMF's FAQ's] and I am totally comfortable in this respect on my tax return. But you are absolutely correct..... it is very complex.

Thanks again for your excellent advice.

Print the post  


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.
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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.