Thanks, DoninGA and everyone else.
I see on the draft 2019 IRS doc you posted that the 1/2 self-employment tax reduction, for the purpose of traditional IRA deductions, is NOT figured into MAGI.
- https://www.irs.gov/pub/irs-dft/p590a--dft.pdf#page=15
I also did not realize their are multiple MAGI calculations for different purposes.
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As a follow-up question, has MAGI for calculating traditional IRA deduction limits always excluded the 1/2 self-employment tax? Or is this a recent change in the tax law?
I very much appreciate all of your helpful replies!
- tweak
