Questions about financial product options? Find discussions around a wide variety of financial service products here. Looking for your first debit card or a seasoned saver looking for tips to build your bank account, this is a great place to share and learn.
04-04-2016 01:35 PM
It is my understanding that becuase my husband and I made more thank $181,000 last year and I have a retirement plan through my work that his Tradiitonal IRA is not deductible, correct?
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04-04-2016 01:56 PM
Since you have a retirement plan through work and your spouse does not, your deduction is limited once your total income exceeds $183,000, and once your total income is equal to $193,000 or more you do not get a deduction.
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04-16-2017 07:06 PM
I was looking for this same info since it will not allow me to take the IRA adjustment and I think I have the same scenario. Our combined income is approx. $243K from my job, my wife's job, and a pension. I was able to take the adjustment last year with about the same income. Is this a change from last year??