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D
dkconlin1
April 5, 2023
Question

MAGI

  • April 5, 2023
  • 1 reply
  • 0 views

When entering the info for my Simple IRA, I received a message about my MAGI being too high.  The number they gave me as proof included my husband's income.  Should the MAGI just be my information?

1 reply

R
RobertB4444
April 5, 2023

No, your modified adjusted gross income is a joint thing.  If you jointly make over $129,000 then you can't take the deduction for contributing to an IRA.  You are still allowed to make the contribution but you can't take a deduction.

 

@dkconlin1 

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D
dkconlin1Author
April 5, 2023

Ok, thank you!

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