Q. I am a FERS employee, with 27 years of service, making $126,000. My wife focuses on raising our son, but does some substitute teaching making about $2,000 per year. Can I max out my TSP at $22,000 and max out a Roth IRA for myself at $6,000 and put an additional $6,000 into my wife’s Roth IRA? I do not understand IRS Pub 590.
A. The answer will depend upon your Modified Adjusted Gross Income for the year of the contribution. If you don’t understand the tax rules and how they apply to you, you should hire a trustworthy tax preparer to help you.
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IRA Pub 590:
Can You Contribute to a Roth IRA?
Generally, you can contribute to a Roth IRA if you have taxable compensation (defined later) and your modified AGI (defined later) is less than:
$179,000 for married filing jointly or qualifying widow(er),
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Looks like you make less than under $179k and should be able to invest in both Roth IRAs as you want to do.