MinhT1
Expert Alumni

Deductions & credits

Even if you only contributed to your 401(k) plan for only part of the year, you are considered as covered by a retirement plan at work for tax year.

 

As a covered person, your eligibility for a deductible IRA may be limited by your Modified Adjusted Gross Income (MAGI).

 

Please read this IRS document to determine your eligibilty for a deductible IRA.

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