Re: Deduct IRA contributions if 1 spouse is covered by pension?

From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: Deduct IRA contributions if 1 spouse is covered by pension?
Date: Thu, 21 Jan 1999 16:53:35 -0500

Next Article (by Subject): Re: Education IRA anyone dulnev@jhu.edu (Jason Dulnev)
Previous Article (by Subject): Re: cost basis and capital gains on homes Rich Carreiro
Articles sorted by: [Date] [Author] [Subject]

>Date: Tue, 19 Jan 99 08:47:11 EST
>From: juanb@VNET.IBM.COM
>
>In previous years, my parents have been unable to make deductible
>contributions to their IRA's because my mother was enrolled in a pension
>plan at work. Were the IRS rules changed this year to allow my father's
>contribution to be deductible, even though my mother is still in the
>pension plan?

Yes, as long as your parents' combined AGI is under $160,000 (I believe
that's the magic number).  See IRS Pub 590 for more details.

Rich Carreiro
rlcarr@animato.pn.com
P5-100/RedHat Linux 4.2

- -

Go to Jeff Salisbury LWGate Home Page.