Who can make deductible contributions to my Individual Retirement Account (IRA)?
Deductible up to annual contribution limit:
- Single individuals not active in employer retirement plans.
- Single individuals active in qualified retirement plans with MAGI below defined limits.
- Married couples with neither spouse active in an employer retirement plan.
- Married individuals active in qualified retirement plans filing joint tax returns with MAGI below defined limits.
- Married individuals not active in qualified retirement plans filing joint tax returns with spouses who are, as long as MAGI is below defined limits.
If you have any further questions about this, call us at 206.398.5500 or send us a message.