Traditional IRA contribution limit

How to understand the followings: Go with Red correct or Blue correct?

If one is covered by employer pention plan at work and the spouse is not covered, then both can contribute $5,000 each to Tranditional IRA for tax deduction as long as the total AGI is below $169.000. Correct?

Or only uncovered one can contribute full$5,000 as long as the total AGI is below $169,000. While the pension plan covered one only can make full contribution of $5,000 as long as the total AGI is below $90,000. Correct?

The below is from IRS website: http://www.irs.gov/retirement/article/0,,id=202510,00.html

2011 IRA Deduction Limits - Effect of Modified AGI on Deduction if You Are Covered by a Retirement Plan at Work

If Your Filing Status Is...	And Your Modified AGI Is...	Then You Can Take...

filing jointly or qualifying widow(er)	$90,000 or less	a full deduction up to the amount of your contribution limit.
	more than $90,000 but less than $110,000	a partial deduction.
	$110,000 or more	no deduction.

2011 Deduction Limit - Effect of Modified AGI on Deduction if You Are NOT Covered by a Retirement Plan at Work

If Your Filing Status Is...	And Your Modified AGI Is...	Then You Can Take...
married filing jointly with a spouse who is covered by a plan at work	$169,000 or less	a full deduction up to the amount of your contribution limit.
	more than $169,000 but less than $179,000	a partial deduction.
	$179,000 or more	no deduction.

所有跟帖： 

• Any comments? -summer123- ♂ (0 bytes) () 03/12/2012 postreply 08:09:47

• 回複：Traditional IRA contribution limit -LaoWong- ♀ (445 bytes) () 03/12/2012 postreply 15:44:24

• so both can make each $5,000 if combined AGI is less than $169,0 -Summer123- ♂ (368 bytes) () 03/12/2012 postreply 19:22:20