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TMFPMarti:

<<<I thought that I recently read where at certain high levels of AGI (north of 160k, IIIRC, there may be limits on contributions to Roth IRA for non-working spouse except to the extent of such spouse's earnings (as opposed to high income spouse's earnings.

Unfortunatley, I lost the link and have not been able to find it. Perhaps I misunderstood what I read? Perhaps what I read was wrong?>>>

"I suspect it's more a crossed wire. Thanks to all the simplification in tax law, it's easy for that to happen.

For most people, if you're not covered by a retirement plan at work you can make a deductible traditional IRA contribution regardless of income level. But if a couple is in the income range you speak of, which happens to be exactly the same as the income range for phaseout of Roth contributions, the "uncovered" spouse's deduction is phased out.

Add ice, shake vigorously, et voila!"


Thanks.

You do not say, but can I assume that yo reference to the deduction being phased out means the non-income spouse could choose to make a non-deductible, traditional IRA contribution, creating basis in the IRA (and file the 8606 (?) form for non-deductible traditional IRA contributions?

Regards, JAFO
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