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Level 5
March 30, 2022
Question

Roth IRA contribution determination

  • March 30, 2022
  • 2 replies
  • 17 views

Hi,

I have a MFJ return, both are over 55 years old

taxpayer W2 wages $5300, Unemployment  $20500 

Spouse W2 wage $4427, Unemloyment $30500

I set Roth Maximum, but the Roth Determination sheet allocate $7000 contribution to tax payer

Only allocate $2727 to Spouse.

My question is, can I have them contribut to their W2 wages of $5300 and $4427.

So the total still$9727.

Is this ok to reallocate to $5300 v. $4427

This topic has been closed for replies.

2 replies

rbynaker
Level 13
March 31, 2022

Yes, you can allocate however you want because of the spousal IRA rules.

skyworksAuthor
Level 5
March 31, 2022

thanks

qbteachmt
Level 15
March 31, 2022

"but the Roth Determination sheet allocate $7000 contribution to tax payer

Only allocate $2727 to Spouse"

That's because it is doing the math, not Thinking.

Don't yell at us; we're volunteers
skyworksAuthor
Level 5
March 31, 2022

got it, thanks!