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by Duckie
Sun Nov 11, 2018 5:40 pm
Forum: Investing - Help with Personal Investments
Topic: Help with 401K investments
Replies: 6
Views: 263

Re: Help with 401K investments

I've copied and pasted the funds, amount invested, return to date, etc below and am open to any advice on improving this moving forward. You have too many funds many of which are rather expensive. I don't know what your plan expense ratios are but the following are the best options of those listed:...
by Duckie
Sun Nov 11, 2018 4:14 pm
Forum: Investing - Help with Personal Investments
Topic: NJ Deferred Comp 457 - Help with Allocations
Replies: 3
Views: 171

Re: NJ Deferred Comp 457 - Help with Allocations

casey6632 , welcome to the forum. Here are my current investments and below I have listed all of the options that I can choose from. Any advise as to how I should change my allocations? Current Allocations: Name and percentage of Holdings: PIMCO All Asset Instl 9.38% Large Cap Value / LSV Asset Man...
by Duckie
Sat Nov 10, 2018 5:49 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Checkup - for the first time
Replies: 8
Views: 1094

Re: Portfolio Checkup - for the first time

Age: 46/46 Desired Asset allocation: 90% stocks / 10% bonds 10% bonds is very aggressive for your ages. I'd be at least 30% bonds. Desired International allocation: 5% of stocks That's less than 5%. Why bother? His 401k – Fidelity 6% Company Match 30.38% $199,618.00 GROWTH FUND OBLF 0.43 Dump this....
by Duckie
Fri Nov 09, 2018 8:05 pm
Forum: Personal Finance (Not Investing)
Topic: Best type of retirement plan for small nonprofit?
Replies: 10
Views: 540

Re: Best type of retirement plan for small nonprofit?

SIMPLE 401(k) - never heard of this before, but seems rare It is rare. It has the disadvantage of the lower contribution limits of a SIMPLE IRA and the higher paperwork requirements of a 401k. Any other options I've missed? Yes, but none of the following would be useful in your case. SARSEP Payroll...
by Duckie
Thu Nov 08, 2018 6:21 pm
Forum: Investing - Help with Personal Investments
Topic: Need Advice Regarding Where to Put Retirement Funds
Replies: 7
Views: 876

Re: Need Advice Regarding Where to Put Retirement Funds

JMA304 wrote:Through my employer, I have direct access to the Vanguard Institutional Index Fund Institutional Plus Shares [VIIIX] fund.
Does your employer also offer an extended market fund? That would cover the missing 20% mid/small caps found in Total Stock.
by Duckie
Thu Nov 08, 2018 6:01 pm
Forum: Investing - Help with Personal Investments
Topic: Tax efficiency in retirement
Replies: 6
Views: 1276

Re: Tax efficiency in retirement

I’ve initiated the transfers on my own IRAs and will hopefully get DW’s solo 401k going shortly. I don't know where she plans to open the solo 401k but be aware than Vanguard's solo plan does not allow incoming rollovers. So since she needs to "hide" her non-Roth IRAs, Vanguard is not suitable. Wha...
by Duckie
Thu Nov 08, 2018 5:45 pm
Forum: Investing - Help with Personal Investments
Topic: Military Pilot- 8/10 yrs to FIRE, need help! BONDS/ Taxes
Replies: 22
Views: 2727

Re: Military Pilot- 8/10 yrs to FIRE, need help! BONDS/ Taxes

At Vanguard you can exchange from one Vanguard fund to another. You can't exchange if one of the funds is not Vanguard. In that case you have to sell and buy. If I exchange, will it still register as a "gain" to impact taxes or no? An exchange is a sell/buy without going through the two separate st...
by Duckie
Thu Nov 08, 2018 5:18 pm
Forum: Investing - Help with Personal Investments
Topic: 30 - Portfolio Strategy - Tax efficiency questions
Replies: 4
Views: 660

Re: 30 - Portfolio Strategy - Tax efficiency questions

His Rollover IRA-77.5k - vanguard target 2055 (VFFVX) (.15%) [this account will get rolled into his new 401k plan before EOY] His 401k -0- at Vanguard - job starts next week His Roth IRA-24k - vanguard target 2055 (VFFVX) (.15%) His Traditional IRA-11k - vanguard target 2055 (VFFVX) (.15%) [this ac...
by Duckie
Wed Nov 07, 2018 6:54 pm
Forum: Investing - Help with Personal Investments
Topic: 30 - Portfolio Strategy - Tax efficiency questions
Replies: 4
Views: 660

Re: 30 - Portfolio Strategy - Tax efficiency questions

ltv , welcome to the forum. Age: 30 Desired Asset allocation: 80% stocks / 20% bonds Desired International allocation: 30% of stocks This is reasonable. It breaks down to 56% US stocks, 24% international stocks, and 20% bonds. Current retirement assets All accounts are Vanguard except her 401k Taxa...
by Duckie
Wed Nov 07, 2018 5:47 pm
Forum: Investing - Help with Personal Investments
Topic: Military Pilot- 8/10 yrs to FIRE, need help! BONDS/ Taxes
Replies: 22
Views: 2727

Re: Military Pilot- 8/10 yrs to FIRE, need help! BONDS/ Taxes

I stopped all automatic re-investments in Taxable. Good. Moved my tTSP and ROTH TSP ($60,000) to G Fund. I can not move them independent of one another. Okay. What about his TSP? Invested 20,000 into Total Stock. Is this in taxable? Did you sell something or is this part of the $50K from checking? ...
by Duckie
Tue Nov 06, 2018 7:39 pm
Forum: Investing - Help with Personal Investments
Topic: 403B, is mine even worth it?
Replies: 10
Views: 891

Re: 403B, is mine even worth it?

jwils118 , welcome to the forum. Any suggestions? The only way to see what's best is to contact every custodian on the list and get their options. You need the fund names, ticker symbols, and plan expense ratios. Plus you need the custodian's extra maintenance fees, etc. Just a couple of decent low...
by Duckie
Tue Nov 06, 2018 7:24 pm
Forum: Investing - Help with Personal Investments
Topic: Tax efficiency in retirement
Replies: 6
Views: 1276

Re: Tax efficiency in retirement

$1.2M in tax deferred 401ks/ IRAs - going to try and consolidate IRAs with current employer 401k so I can do backdoor Roths. DW is self employed so not sure what her options are. The self-employed have three basic retirement plans: Solo 401k -- The option to choose if she wants to use the backdoor ...
by Duckie
Tue Nov 06, 2018 6:44 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Allocation % - Target Date 2040 Fund vs Custom selection
Replies: 6
Views: 754

Re: 401K Allocation % - Target Date 2040 Fund vs Custom selection

I am currently contributing 7% to 401K and just set a ROTH IRA to add $250 a month to that IRA. Should I continue to do 7% in 401K plan or decrease to employer match 4% and take the rest and add it my Roth IRA instead? You have good funds in the 401k (if you use them), so contributing 7% is fine. I...
by Duckie
Mon Nov 05, 2018 5:29 pm
Forum: Investing - Help with Personal Investments
Topic: Order of Operations - What to hit first...
Replies: 8
Views: 1512

Re: Order of Operations - What to hit first...

I think I may only have a year or two left of ability to contribute to the IRA due to the married income cap... You show no non-Roth IRAs in your portfolio. That means when your income gets above the limit for direct Roth IRA contributions you will be able to use the Backdoor Roth IRA method withou...
by Duckie
Sun Nov 04, 2018 5:48 pm
Forum: Investing - Help with Personal Investments
Topic: How often should I buy VASIX and ORTYX given that they have transaction fees?
Replies: 14
Views: 1028

Re: How often should I buy VASIX and ORTYX given that they have transaction fees?

I have brokerage accounts with Schwab. Both VASIX and ORTYX have $25/transaction fees. How often/how much should I accumulate before purchasing more of those funds? At least $1000 each and more would be better. And are there good equivalents I should use for temporarily investing cash rather than j...
by Duckie
Sun Nov 04, 2018 5:16 pm
Forum: Investing - Help with Personal Investments
Topic: Saving for something 20 years from now
Replies: 24
Views: 3169

Re: Saving for something 20 years from now

I'm planning to put 800 monthly contributions to save for a payment about 20 years from now. <snip> Thoughts? The need for this money is 20 years away. I would invest the contributions according to my current retirement AA for now. That money might be all in stocks, all in bonds/cash, or mixed. In ...
by Duckie
Sun Nov 04, 2018 5:03 pm
Forum: Investing - Help with Personal Investments
Topic: Military Pilot- 8/10 yrs to FIRE, need help! BONDS/ Taxes
Replies: 22
Views: 2727

Re: Military Pilot- 8/10 yrs to FIRE, need help! BONDS/ Taxes

I need to check but would your TSP recommendations change if the accts were ROTH TSP vs Traditional TSP? I think there is money in each type but I didn't consider the implications of holding bonds in Roth vs Traditional until you pointed it out. I think we have a mixture of ROTH TSP and Traditional...
by Duckie
Sat Nov 03, 2018 7:14 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Allocation % - Target Date 2040 Fund vs Custom selection
Replies: 6
Views: 754

Re: 401K Allocation % - Target Date 2040 Fund vs Custom selection

gnk1975 , welcome to the forum. Should I stay the course or change to a Vanguard Index fund (VIIX), Vanguard Extr index market fund (VIEIX) and lastly a Vanguard bond fund. Vanguard has way lower expense ratios of 0.02 Yes, swap. Without knowing your exact plan expense ratios I'm sure the following...
by Duckie
Sat Nov 03, 2018 6:49 pm
Forum: Investing - Help with Personal Investments
Topic: Military Pilot- 8/10 yrs to FIRE, need help! BONDS/ Taxes
Replies: 22
Views: 2727

Re: Military Pilot- 8/10 yrs to FIRE, need help! BONDS/ Taxes

Duckie, would you recommend TSP G or TSP F or a mix? Why? It seems that TSP F has higher returns (even with higher risk) and since we're not looking at immediate retirement/need for safety/income, it may be worth it? The G Fund is almost a "free lunch". It pays higher intermediate-term rates on sho...
by Duckie
Fri Nov 02, 2018 5:51 pm
Forum: Investing - Help with Personal Investments
Topic: Is "recharacterizing" the correct method/term?
Replies: 14
Views: 615

Re: Is "recharacterizing" the correct method/term?

so am I correct that I need to submit a form to "recharacterize" these Roth contributions in order to move the contributions to the Traditional IRAs? Your custodian can probably set this up over the phone and you won't have to fill out a form. Call first. And can I do this before the end of the cal...
by Duckie
Fri Nov 02, 2018 5:44 pm
Forum: Investing - Help with Personal Investments
Topic: Military Pilot- 8/10 yrs to FIRE, need help! BONDS/ Taxes
Replies: 22
Views: 2727

Re: Military Pilot- 8/10 yrs to FIRE, need help! BONDS/ Taxes

Bonds: How to get to 20% in bonds (where to invest, how much money would we need to get us to 15/20% within our portfolio?) Should I use to G fund in the TSP to hold the bonds? If so, what do I do with the LifeCycle we are currently investing into? Yes, use the TSPs for all your bonds. Instead of L...
by Duckie
Thu Nov 01, 2018 6:14 pm
Forum: Investing - Help with Personal Investments
Topic: FTIPX Tax loss harvesting now?
Replies: 7
Views: 555

Re: FTIPX Tax loss harvesting now?

I currently own FTIPX in a taxable account, and thinking about tax loss harvesting(which I have never done before). The total loss on the investment is $2,253 (-8.4%) and I am thinking about selling it and buying something like a FSIVX or IXUS. FSIVX is only developed markets and covers about 70% o...
by Duckie
Thu Nov 01, 2018 6:01 pm
Forum: Investing - Help with Personal Investments
Topic: Paralysis by analysis
Replies: 4
Views: 903

Re: Paralysis by analysis

cap999 , welcome to the forum. Sitting on the cash in the IRA due to getting rid of some funds. How best to put that to work? See below. I'm stuck on how best to split things up? Mirror 3 or 4 index funds in the 3 accounts or split the weighting between them? Don't mirror. Pick the best options in ...
by Duckie
Thu Nov 01, 2018 5:28 pm
Forum: Investing - Help with Personal Investments
Topic: 401k rollover funds
Replies: 3
Views: 308

Re: 401k rollover funds

My son left his employment and has $50,000 in his 401k. He also has $150,000 in Ally savings account. The TRowe Price funds in his 401k seem to be good funds but he wants to rollover the $50K into an IRA at Fidelity. If he is anywhere near the income limits for direct Roth IRA contributions, he sho...
by Duckie
Wed Oct 31, 2018 4:41 pm
Forum: Investing - Help with Personal Investments
Topic: NY 457/Settlement Advice
Replies: 7
Views: 718

Re: NY 457/Settlement Advice

drayno2001 , welcome to the forum. I currently have $40k in my Roth IRA through American Funds which was set up by my parents when I was in HS. I found out the ER is .77% which seems high from what I've read. I don't know if there are any other fees associated with the account. Right now I'm set up...
by Duckie
Tue Oct 30, 2018 5:41 pm
Forum: Investing - Help with Personal Investments
Topic: Mega Backdoor: Cap on Distribution to Roth IRA?
Replies: 12
Views: 954

Re: Mega Backdoor: Cap on Distribution to Roth IRA?

Am I able to make a $5500 deposit into a new tIRA this calendar year and then perform the transfer to a Roth account immediately thereafter, or because I already transferred $4900 from a tIRA to a Roth account I'm not able to do so again this year (ignoring the $600 available headroom)? Yes, as lon...
by Duckie
Tue Oct 30, 2018 5:30 pm
Forum: Investing - Help with Personal Investments
Topic: Self Employed 401K with transfer of traditional IRA
Replies: 6
Views: 333

Re: Self Employed 401K with transfer of traditional IRA

FinancialChewtoy , welcome to the forum. Does the non-1099 job affect the amount she can contribute to the SE-401K from 1099 sources? I don't think it does, but need confirmation. The non-1099 job does not offer a retirement plan and is also hourly (county government job). No. It would only affect ...
by Duckie
Mon Oct 29, 2018 5:33 pm
Forum: Investing - Help with Personal Investments
Topic: VWELX, VTSMX [Vanguard Wellington, Total Stock Market]
Replies: 7
Views: 1526

Re: VWELX, VTSMX [Vanguard Wellington, Total Stock Market]

ge_trojan , welcome to the forum. I was planning to put $3000 in VWELX in a Roth to get started with my Vanguard account. Now I am wondering if it might be better to go with VTSMX. Well, it's an IRA so changing your mind won't trigger taxes but it's a Roth IRA which means stocks are better and VWEL...
by Duckie
Mon Oct 29, 2018 5:22 pm
Forum: Investing - Help with Personal Investments
Topic: Best way to start investing in the 3 fund portfolio
Replies: 1
Views: 312

Re: Best way to start investing in the 3 fund portfolio

DLutz4714 , welcome to the forum. I'd like to invest $500 monthly on top of my current 401K contributions. Unless you're buying ETFs, you need $1000 to buy the cheapest funds at Vanguard and $3000 to buy one of the three funds in the Three-Fund Portfolio. So save up until you have that amount. The ...
by Duckie
Sat Oct 27, 2018 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: sold condo that was given to me, taxes owed?
Replies: 17
Views: 1364

Re: sold condo that was given to me, taxes owed?

Regardless, am I responsible to report to my accountant at the end of the year and pay taxes on the amount that my portion was sold for? Yes. Since the condo was a gift you need to find out your parents' cost basis. You will owe taxes on your portion of the sale (50%) minus your portion of the basi...
by Duckie
Sat Oct 27, 2018 5:11 pm
Forum: Investing - Help with Personal Investments
Topic: Help! Pick which stocks to sell off
Replies: 11
Views: 967

Re: Help! Pick which stocks to sell off

I was recently gifted a number of stocks. Each has fairly significant long-term capital gains. I would be paying 15% in capital gains by selling off some. I have about $60,000 in tax loss harvesting this year so far. How would you do this? Better to focus on paying no additional taxes / sell off on...
by Duckie
Fri Oct 26, 2018 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Girlfriend's Student Loans
Replies: 101
Views: 9154

Re: Girlfriend's Student Loans

CedarWaxWing wrote:By age 32ish...she should have paid it off by now however, so why did she not get that accomplished?
He's 32. We don't know how old she is. Being a "newly minted" teacher she could be as young as 22.
by Duckie
Thu Oct 25, 2018 9:44 pm
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA?
Replies: 9
Views: 645

Re: Backdoor Roth IRA?

regaphysics wrote:I've read that I am allowed to contribute to an IRA despite not having earnings because my wife has enough income for both of us (and we file jointly) - is that correct?
Yes.
by Duckie
Wed Oct 24, 2018 9:35 pm
Forum: Investing - Help with Personal Investments
Topic: Consulting income-how to manage taxes?
Replies: 15
Views: 1515

Re: Consulting income-how to manage taxes?

if I open a SEP IRA (with 25% of the consulting compensation?) and then rollover the SEP IRA into my husband's employer's 401K before the end of 2018, there would be no pro rata impacts for the backdoor Roth that I already did this year. Is this the best/easiest option for me to save money on taxes...
by Duckie
Wed Oct 24, 2018 7:13 pm
Forum: Investing - Help with Personal Investments
Topic: Tax-advantaged retirement options for an expat?
Replies: 2
Views: 277

Re: Tax-advantaged retirement options for an expat?

Which I hope to simplify as: Roth IRA contributions are ideal but you can only make these if you are making more than zero after certain tax exclusions but less than $135k gross if you’re unmarried or $189k gross if you’re married. If you make more than that, you can only do a traditional IRA. Is t...
by Duckie
Wed Oct 24, 2018 7:08 pm
Forum: Investing - Help with Personal Investments
Topic: UGMA accounts best option?
Replies: 6
Views: 454

Re: UGMA accounts best option?

I did a quick search on the IRS website and it mentions that gifts above the threshold typically need to be reported by the donor. Given that the donor doesn’t live in the US / not a US citizen this doesn’t apply. Let’s say the grandparents give $20,000 in a year, would I need to report that at all...
by Duckie
Tue Oct 23, 2018 6:55 pm
Forum: Investing - Help with Personal Investments
Topic: Another portfolio review request:
Replies: 4
Views: 631

Re: Another portfolio review request:

Poster is 76, spouse is 71. Questions: What would be the ideal stock/bond ratio, There is no ideal, there is just what you can stomach. At your ages I recommend 40% stocks and 60% bonds. and should it contain international funds? That's a personal preference. I think it should. If so, what percenta...
by Duckie
Tue Oct 23, 2018 6:31 pm
Forum: Investing - Help with Personal Investments
Topic: Suggestions for rebalancing 401K composition
Replies: 4
Views: 352

Re: Suggestions for rebalancing 401K composition

mrtoad , welcome to the forum. I am trying to rebalance my 401K composition and am looking for input on how best to approach based on my options. <snip> The International Stock and Bonds components seem straightforward with VTIAX and VBTLX, respectively. I am curious how to approach the US stock be...
by Duckie
Tue Oct 23, 2018 6:27 pm
Forum: Investing - Help with Personal Investments
Topic: Help with Invest Plan/Asset Allocation - roughly 2 milion
Replies: 5
Views: 744

Re: Help with Invest Plan/Asset Allocation - roughly 2 milion

shilpat , welcome to the forum. Vanguard Advisor has proposed a plan for us. Would love to get your input on the plan. I have tweaked the plan based on my research and would love input on the tweaked plan as well. Unless there is some problem with fees, I would make it a lot simpler: 49% VTI/VTSAX ...
by Duckie
Tue Oct 23, 2018 6:17 pm
Forum: Investing - Help with Personal Investments
Topic: Inheritance portfolio design
Replies: 3
Views: 535

Re: Inheritance portfolio design

Standing to inherit a high six-figures sum next year and I am looking to get some feedback on a hypothetical portfolio. The portfolio would be at Vanguard in a taxable account. <snip> Funds I'm interested in; VTSAX Vanguard Total Stock Mkt Idx Admiral VTIAX Vanguard Total Intl Stock Index Admiral V...
by Duckie
Tue Oct 23, 2018 6:03 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA earned income qualifying period
Replies: 9
Views: 891

Re: ROTH IRA earned income qualifying period

So would my eBay sales this year be considered earned income, even though they're not over $20,000? Yes. You will need to file Schedule C to show your profit and Schedule SE for your self-employment tax (social security/medicare). From what I've read, only earnings over $20,000 are taxed, but you s...
by Duckie
Sun Oct 21, 2018 4:10 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA Contribrution - am I stuck?
Replies: 5
Views: 840

Re: Roth IRA Contribrution - am I stuck?

Within a few days of the contribution (and before December 31st), roll over the $5,500 from her TIRA to her existing Roth Account (also with Vanguard and currently under PAS). When converting the TIRA to the Roth IRA she needs to convert 100%, not a dollar amount. Account values shift. It's my unde...
by Duckie
Sat Oct 20, 2018 6:23 pm
Forum: Investing - Help with Personal Investments
Topic: Municipal Money Market Fund
Replies: 15
Views: 1446

Re: Municipal Money Market Fund

I want to add municipal money market account to the portfolio. But it will not allow me to do this and only Fedral money market account is being allowed as an option. On the "Holdings" page under your brokerage account number you click on "Transact" >> "Buy Vanguard Funds". When it asks "Where's th...
by Duckie
Sat Oct 20, 2018 6:04 pm
Forum: Investing - Help with Personal Investments
Topic: Am I doing it right?
Replies: 17
Views: 1496

Re: Am I doing it right?

Backdoor Roth sounds very very confusing. The process is not complicated. You make a non-deductible contribution to a TIRA and convert to a Roth IRA. However, there are two gotchas. The first is IRS Form 8606 . A lot of people can't seem to fill it out correctly. The second is making sure there are...
by Duckie
Sat Oct 20, 2018 5:36 pm
Forum: Investing - Help with Personal Investments
Topic: Need to simplify portfolio
Replies: 6
Views: 603

Re: Need to simplify portfolio

Age: 42 Desired Asset allocation: 90% stocks / 10% bonds 10% bonds is aggressive at your age. I recommend 30% bonds. Desired International allocation: 25% of stocks This is reasonable. I also have a small pension from a previous employer, but I don’t know how to list it here If you plan to take the...
by Duckie
Sat Oct 20, 2018 4:46 pm
Forum: Investing - Help with Personal Investments
Topic: Learning about all this financial stuff
Replies: 12
Views: 1217

Re: Learning about all this financial stuff

something's weird. When I click on your link that you copied from my post it doesn't show the article. But when I click on the link that I posted on my post, it comes right up. What's up with that? Click on the quote button and look at the following links: Your post has this: http://web.archive.org...
by Duckie
Thu Oct 18, 2018 7:29 pm
Forum: Investing - Help with Personal Investments
Topic: New member - American Funds to Vanguard
Replies: 3
Views: 601

Re: New member - American Funds to Vanguard

LoveToCT wrote:Do I just sell them off all at once and then buy the Vanguard index funds in my desired allocation?
Since this is a SEP IRA and there are no tax consequences, yes, sell them all and buy what you want.
by Duckie
Thu Oct 18, 2018 7:25 pm
Forum: Investing - Help with Personal Investments
Topic: Investments for HSA - California
Replies: 9
Views: 1133

Re: Investments for HSA

JayinLA wrote:Not sure how to edit the thread title, but thanks for the info!
To edit any post you click on the little pencil icon to the left of your name on that post. To edit the thread title you click on your first post and change the "Subject".
by Duckie
Wed Oct 17, 2018 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: [Help with 401k rollover, Roth conversion]
Replies: 3
Views: 393

Re: [Help with 401k rollover, Roth conversion]

jwc1754 , welcome to the forum. I am planning to rollover pre-tax 401k to Vanguard TIRA account this year. And planning to do ROTH conversion next year by myself. What tool should i use for ROTH conversion? You open a Roth IRA and either online or on the phone transfer the dollar amount you want to...
by Duckie
Wed Oct 17, 2018 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal IRA contributions
Replies: 4
Views: 574

Re: Spousal IRA contributions

elgie23, welcome to the forum.
elgie23 wrote:For Spouse B - limited to 2k in IRA contributions, or can go to 5500 via spousal IRA rules?
Since you are married filing jointly, Spouse B can contribute $5.5K based on joint income.