May 14, 2021
11:46:38am
11:46:38am
Tax question - is a nonworking spouse covered by a retirement plan?
In the IRA section of taxes it asks if whomever the IRA is for is covered by a retirement plan. I am since I have a 401k with my company. My wife is a stay at home mom with no earned income. Is she covered by my retirement plan?
Reading these two IRS pages makes me think I've been wrong the last several years having marked that my wife isn't covered by a retirement plan. Or is this assuming both spouses have earned income?
https://www.irs.gov/retirement-plans/are-you-covered-by-an-employers-retirement-plan
This market watch article makes it seem like the nonworking spouse's IRA contribution would be deductible.
Reading these two IRS pages makes me think I've been wrong the last several years having marked that my wife isn't covered by a retirement plan. Or is this assuming both spouses have earned income?
https://www.irs.gov/retirement-plans/are-you-covered-by-an-employers-retirement-plan
This market watch article makes it seem like the nonworking spouse's IRA contribution would be deductible.
- Previous username
- (Private)
- Bio page
- mottman
- Joined
- Jan 14, 2007
- Last login
- Apr 23, 2024
- Total posts
- 14,064 (1,104 FO)
