Tax Breaks for Married Retirees
But what about married couples? Well, if you and your spouse get little or no earned income at all, you can also make an IRA contribution of up to $5,500. However, this rule only applies if the other spouse has enough earned income to cover both contributions.
In 2017, you could take a partial tax deduction as long as your combined income was between $184,000 and $194,000. This year, things are about to change. Starting 2018, the contribution is tax-deductible if your income doesn’t exceed $189,000 on a joint return. Also, you can take a partial tax deduction if your combined income is between $189,000 and $199,000.
