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Retirement tax questions
You can use the $15,500 to calculate your IRA contribution.
According to the IRS website, "Your total contributions to your IRA and your spouse's IRA may be at most your joint taxable income or the annual contribution limit on IRAs times two, whichever is less. It doesn't matter which spouse earned the income. Roth IRAs and IRA deductions have other income limits."
For more information on IRA contributions, see the link below:
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‎January 26, 2023
7:11 AM
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