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Level 3
December 7, 2019
Solved

Why is an IRA contribution only resulting in a tax benefit if it's the taxpayer and not the spouse?

  • December 7, 2019
  • 7 replies
  • 8 views
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Best answer by IRonMaN

Income limitation because one of them is an active participant in a retirement plan?

7 replies

rbynaker
Level 13
December 7, 2019
Is the spouse covered under an employer plan?
Level 2
December 7, 2019
yes
rbynaker
Level 13
December 7, 2019
And the taxpayer is not covered under an employer plan?
Level 2
December 7, 2019
he is covered as well
rbynaker
Level 13
December 7, 2019
Is the "retirement plan" box on his W-2 Wks checked?
Level 2
December 7, 2019
Yes
IRonMaN
IRonMaNAnswer
Level 15
December 7, 2019

Income limitation because one of them is an active participant in a retirement plan?

Slava Ukraini!