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Reply to "Husband's IRA not tax deductable??"
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[quote=Anonymous][quote=Anonymous]How can this be? His work does NOT offer any retirement plan. I have a 401k at my work that I contribute. I put 5,000 in an IRA for him for 2012, thinking it will bring our tax bill down. Willl, I guess I was wrong. Turbotax says because we make more than 183k and I contribute to a 401k, that his IRA contribution is NOT tax deductable. This really stinks and I am mad! It just doesn't seem fair that we get screwed because his company doesn't offer a 401k. We can't comfortably retire on 1 spouse's retirement plan.[/quote] IRAs have income limits, so yes, if you are above that limit then it is not a deduction. [/quote]
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