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Can we deduct an IRA cotribution for a non-working spouse not covered by Company Plan,regardless of Income ? |
My wife's IRA was opened, using personal funds. Yes. As long as the spouse invested in a traditional IRA and not a Roth IRA and is not covered by any other retirement plan, you can deduct the amount up to 4,000. 5,000 for those age 50 and above. |
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