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Deductions & credits
Only the spouse who is not covered by the workplace retirement plan begins the deduction phase-out at $218,00 of MAGI for the purpose. For the spouse who is covered by the workplace retirement plan, the phase-out (for 2023) of the deduction for a traditional IRA contribution begins at $116,000 of MAGI and is fully phased-out at $136,000 of MAGI.
March 31, 2024
9:21 AM