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Author: ResNullius Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121095  
Subject: IRA Q Date: 12/19/2012 10:37 AM
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I'm retired and get SS. My wife works part-time, grossing around $45K, and she's covered by a qualified plan at work. Can I contribute $6K to my IRA and deduct the $6K in calculating our AGI? Thanks.
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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 117159 of 121095
Subject: Re: IRA Q Date: 12/19/2012 10:42 AM
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I'm retired and get SS. My wife works part-time, grossing around $45K, and she's covered by a qualified plan at work. Can I contribute $6K to my IRA and deduct the $6K in calculating our AGI?

As long as you're under 70 1/2 and file a joint return, probably. Same is true for her, probably. See Pub 590, Chapter 1 for the phaseout ranges and how to calculate MAGI. (The phaseout range is different for her.)

Phil
Rule Your Retirement Home Fool

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Author: ResNullius Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 117161 of 121095
Subject: Re: IRA Q Date: 12/19/2012 11:05 AM
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Thanks, Phil.

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