
|Articles|August 1, 2008
Contributing to a spousal IRA
I'm covered by a retirement plan at work, but my husband isn't. What's the maximum deductible contribution we can make for him to a traditional IRA for 2008?
Advertisement
I'm covered by a retirement plan at work, but my husband isn't. What's the maximum deductible contribution we can make for him to a traditional IRA for 2008?
If your joint adjusted gross income is $159,000 or less and you file a joint tax return, you can make a deductible contribution of up to $5,000. That limit rises to $6,000 if your husband is 50 or older. Once your joint AGI tops $159,000, however, the size of your deduction starts shrinking, and it disappears entirely when your joint AGI reaches $169,000.
Advertisement
Latest CME
Advertisement
Advertisement
Trending on Medical Economics
1
Primary care cuts the financial and human cost of chronic disease. So why isn’t the nation investing in it?
2
McKesson data breach exposes prescribing physicians and their patients to fallout from a third-party attack
3
Lifestyle medicine could be direct primary care's next differentiator, whitepaper says
4
AAFP issues fall vaccine recommendations amid competing guidance
5






