If you file a joint return, your spouse can contribute to an IRA even if she didn’t have taxable compensation as long as you did. Each spouse can make a contribution up to the current limit ($6,000 or $7,000 if age 50 or older); however, the total of your combined contributions can’t be more than the taxable compensation reported on your joint return. Whether the IRA contribution is deductible depends on your modified adjusted gross income (MAGI) for the tax year. See the Form 1040 instructions for a worksheet you can use to compute the amount that is deductible. This IRS Tax Topic has more information.
Articles in this section
- My spouse is retired and had no earned income. I, however, did have earned income and I participate in my company's retirement plan. If we file married filing jointly, is she eligible to make a deductible traditional IRA contribution based on my income?
- My parents took out a student loan, but I'm now an independent taxpayer making the payments. Who can claim the interest deduction, me or my parents?
- I make support payments to my ex-spouse for her and our two minor children in her custody. Are these payments deductible as alimony?