IRA contribution limit situation
Person left his employer in February ’16 where he participated in a 401(k) plan. Started employment at another employer in April that does not provide a retirement plan. Spouse employed but does not have a retirement plan. Household AGI approximately $60k annually. Can the person make a full deductible contribution to a traditional IRA for 2016?
Permalink Submitted by Alan - IRA critic on Wed, 2016-05-18 18:28
Yes, if filing jointly and modified AGI is under 98k.