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What is the retirement tax break TurboTax was talking about? Is this about the Roth IRA contribution income limit?
My income dropped a lot last year, and I believe I am finally eligible to contribute to Roth IRA for 2023. However, turboTax still says that: It turns out you don't qualify for a retirement tax break. You can still contribute up to $6500 to an IRA, but because of your income, you are not eligible to tax a deduction this year. And I would like to understand what tax break it is talking about...
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March 13, 2024
8:22 PM