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Retirement tax questions
So then you also need to be eligible to make a IRA contribution. Do you have enough earned income to make a contribution? How much did you put into your IRA? There is max.
You can only contribute the smaller of
$6,000 ($7,000 if you are age 50 or older) -OR-
Your taxable compensation for the year.
IRS Pub 590-A IRA Contributions. Bottom of page 8
‎April 15, 2020
4:09 PM