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Get your taxes done using TurboTax
My test file contains a $200,000 distribution from an inherited traditional IRA, resulting in a total income on Form 1040 line 9 of $272,590, but the MAGI shown on line 12 of the IRA Deduction Worksheet is only $72,590 (instead of $272,590), allowing the IRA contribution to be deductible on Schedule 1.
‎April 5, 2024
12:12 PM