Backdoor roth ira - couple max limit
Quick question on backdoor roth ira contributions and file taxes as married file jointly status. I took vanguard ira account and converted to roth of 5500 max limit for 2018. Can my spouse also take another ira account and convert to roth with another 5500? Is 5500 limit for 2018 is individual person or couple limit when we file taxes as married jointly.
Salesforce itLG51 Mar 29, 2019
Individual limit. Your spouse can also contribute
Salesforce 2438ez Mar 29, 2019
As long as you have enough earned income for the year to cover both of your contributions, you may each make 5500 contribution (2018) or 6000 contribution (2019)
Syntel catty OP Mar 30, 2019
Thank u
Interested as well. When you filed taxes did your contribution give you any deductions? Mine said it wasn’t eligible for any deductions.
No tax deductions on roth ira. I was checking both wife n husband can contribute 5500 each or not in same year?
No traditional. Most engineers can’t do Roth because they make more than the cap. Can backdoor if that’s what you’re asking