2012 IRA Contribution and Deduction Limits - Effect of Modified AGI on Deductible Contributions if You are NOT Covered by a Retirement Plan at Work
If you are not covered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction.
|
If Your Filing Status Is... |
Then You Can Take... | |
|---|---|---|
| single, head of household, or qualifying widow(er) |
any amount |
a full deduction up to the amount of your contribution limit. |
| married filing jointly or separately with a spouse who is not covered by a plan at work |
any amount |
a full deduction up to the amount of your contribution limit. |
| married filing jointly with a spouse who is covered by a plan at work |
$173,000 or less |
a full deduction up to the amount of your contribution limit. |
|
more than $173,000 but less than $183,000 |
a partial deduction. |
|
|
$183,000 or more |
no deduction. |
|
| married filing separately with a spouse who is covered by a plan at work |
less than $10,000 |
a partial deduction. |
|
$10,000 or more |
no deduction. |
|
| If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status. | ||
Page Last Reviewed or Updated: 2012-08-03
