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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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March 18, 2022
1:15 PM