Roth IRA income deduction
Hello,
If someone is filing married filling jointly then the Roth IRA in 2023 will start to phase out between a MAGI 218k -> 228k.
If the person is under 50, and say the MAGI is 223k, then max Roth contribution would be half max amount or $3,250.
My question is this: is the $3,250 per spouse or for both spouses ?
Ty
Permalink Submitted by Alan - IRA critic on Sun, 2023-09-03 15:52
Per spouse – each spouse could contribute up to 3,250, but no more even if the other spouse contributed 0.