DaveF1006
Expert Alumni

Retirement tax questions

It depends on whether you covered by a retirement plan at work. According to the IRS,:

  • You can take a full deduction if combined income is $105,000 or less.
  • $105-$125K, a partial deductions 
  • $125K or more, no deduction.

If not covered by a retirement plan,

  • You can take a full deduction if combined income is $198,000 or less.
  • $198-$208K, a partial deductions 
  • $208K or more, no deduction

if you aren't covered by a retirement plan, you may have selected that you were and this may prevent you from claiming the contributions.

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