Retirement tax questions

If you are part of a retirement plan at work, it can limit the deductible of an IRA.

Look at this link, as you did not say single or married, but if the income (it uses MAGI-modified adjusted gross income) and if single the deduction is totally phased out at $71K.  

https://www.irs.gov/retirement-plans/plan-participant-employee/2016-ira-contribution-and-deduction-l...


To determine the MAGI look at chart 2.1  https://www.irs.gov/publications/p590a/ch02.html#en_US_2016_publink100025085

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