DaveF1006
Expert Alumni

Retirement tax questions

Yes, you can contribute to a Traditional IRA and it it dependent on whether or not you are covered by a retirement plan at work. If you are covered by ta retirement plan at work and if your income is between $65K-$75K, you can receive a partial deduction for your IRA contribution. This information can be found here.

 

If you are not covered by a retirement plan at work, you are allowed the full deduction for the amount of your contribution. That information can be found link.

 

Also view this IRS link for the amounts for 2021.  Check both under IRA deduction if covered by a retirement plan and not covered by a retirement plan. If you have a retirement plan at work in 2021, you can receive a partial deduction if your income is between $66K-$76K.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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