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Retirement tax questions
You can contribute to the traditional IRA, but since you are an active participant in a workplace retirement plan your deduction for the contribution might be limited depending on your modified AGI for the purpose. There are still ways that you might benefit from making a nondeductible traditional IRA contribution, such as if it might make sense to convert all of your traditional IRAs to Roth, so you are correct to question the benefit of a nondeductible contribution.
‎January 23, 2023
1:22 PM