My AGI for 2007 was $105,000, or $2000 over cutoff for married filing jointly. Two questions:1. Is that $105,000 AGI reduced (for deductibility of IRA contribution purposes) by my contributions to the SEP (thus bringing me under the $103,000 limit)?There's something wrong with the question. AGI is a specific number, and it reflects the deduction for the SEP contribution. So, if your AGI is as stated, you don't qualify to make a deductible traditional IRA contribution. You do, however, qualify to make a Roth IRA contribution of $5,000 for 2007.2. May I now contribute the $5000 for 2007 (I'm over 50) to my existing rollover IRA and may my wife open an IRA for 2007 and contribute $5000 (she is also over 50)? Your wife qualifies for either a fully-deductible $5,000 traditional IRA contribution or a nondeductible $5,000 Roth contribution.Phil
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