Here is my situation.....
I am 30 yrs old married and file my returns jointly. I had 401K
through my employer in 2007 but my wife did not. So my understanding
was that I can put $8K (Tax deductible traditional IRA + rothIRA) for
my wife. Also I can put $4K (rothIRA) for me. In total $12K for year
2007.
However Vangaurd says as a couple we can only put $8K. I am not
doubting Vangaurd but confounded because other websites I go to they
calculate that I can put in upto $12K.
Our combined salary is below 150K and no dependents.
Thanks for any responses.....
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