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I file a joint tax return with my wife. I participate in a government retirement plan. My wife has no plan. Will contributions to an IRA be deductible? Our gross combined income is below $150K.
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The deduction is based on your modified adjusted gross income. Please follow this link for a chart showing the deduction. https://www.irs.gov/retirement-plans/plan-participant-employee/2016-ira-contribution-and-deduction-l...
You can also follow this link for a calculator to help determine the amount of your deduction. https://www.calcxml.com/calculators/ira-calculator
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