DaveF1006
Expert Alumni

Retirement tax questions

Since your IRA contribution limits is based on your Modified Adjusted Gross Income(MAGI), your contribution limit in 2019 would normally be $1000, which is your AGI and MAGI for the year.

 

You do have an excess contribution of $5000 in 2019 as your W2 and 1099 capital loss are a combined AGI/MAGI total for the year. 

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