Jeff, age 73, has some questions concerning IRA contributions. He is still worki

Question

Jeff, age 73, has some questions concerning IRA contributions. He is still working and is covered by a §401(k) plan at work. His spouse, age 62, does not work. Their modified AGI is $200,000. Which of the following statements is true? A. Jeff and his spouse can make a Roth IRA contribution. B. Jeff can make a nondeductible IRA contribution since he is still working. C. Jeff's spouse can make a nondeductible IRA contribution. D. No IRA contribution can be made for Jeff's spouse, since Jeff is too old

Explanation / Answer

Solution: A. Jeff and his spouse can make a Roth IRA contribution.

Working: Jeff make an IRA contribution for a non-working spouse as long as Jeff have enough earned income.

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