dmertz
Level 15

Retirement tax questions

All correct (assuming that you have at least $7,000 of compensation to support the IRA contribution).  However, a traditional IRA contribution may or may not be deductible depending on your modified AGI for the purpose:

 

https://www.irs.gov/retirement-plans/plan-participant-employee/2020-ira-contribution-and-deduction-l...