Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- Industry Discussions
- :
- Tax Talk
- :
- IRA DEDUCTION
IRA DEDUCTION
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
pickle607
Level 2
04-10-2023
02:43 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
What is the ira deduction for mfj with only 1 spouse - age 61 with earned income of $40,000, other spouse age 68 with only social security income $22,000 -- $7,000 Each?
2 Comments 2
qbteachmt
Level 15
04-10-2023
03:50 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
While a person without earned income can't contribute to a retirement account, there is a provision for spousal contribution from the one who earned, based on their eligibility and qualification.
You can google:
trad ira 2022 calculator
And find lots of calculators. Run through the scenarios for your clients.
*******************************
Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
