Not the sharpest tool in the shed! BUT, Why, is this?

[Sundance Kid]

I have my panties all in a wad because, I don't understand why, the IRS instructions
have to be so confusing and downright complicated!

There's a 12 step worksheet to complete, called the IRA Deduction Worksheet--Line 32. By the time one muddles thru that mess, one doesn't know, If they're flying upside down or sideways.

My Question: (Actually, the question is from a guy I know, who's not as smart as I am.)

The "Guy," is retired. Wife works and contributes to her 403b plan at her work. Their combined income, including "His" SSA, small pension and CD/bank interest, totals less than $150,000. Wife, is the only income provider. (She, gets a W-2.)

Here's the question:-- Can the husband, add to his established IRA, the maximum of $5,000 deductible, by virtue of being over 50 years of age?

The more I read, from the instructions, the examples, the various publications and worksheets, the more blown away I/(My friend, gets!)

I would appreciate the valued comments, from anyone choosing to participate!

Thanks!!

 

[d]

if he's less than 70.5, he should be able to do a "spousal" contribution.

 

[Sundance Kid]

Thanks, D.
That's what I think too! I appreciate your answer.

 

[Sundance Kid]

I am sorry, ---I brought up the question.

 

[JohnEyles]

I would appreciate the valued comments ...Thanks!!

Turbotax.

 

[Ed_The_Gypsy]

Does anyone remember when the instructions on the tax form wanted us to estimate our losses due to fire and theft for the coming year?

 

[OAG]

Noooooooooooooo! Not to my knowledge in the last 25 or so years.