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Retirement tax questions
It depends, the deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. Please see IRA deduction limits details.
For 2023 the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:
- $6,500 ($7,500 if you're age 50 or older), or
- If less, your taxable compensation for the year
Please see Where do I enter an IRA rollover?
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‎April 13, 2024
4:04 AM