- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
No. There is no way to sufficiently reduce your MAGI to enable you to fully deduct a $3,000 traditional IRA contribution.
Make a Roth IRA contribution instead. Even if you were eligible to deduct a traditional IRA contribution, the growth in a Roth IRA that will be tax free once requirements are met will likely be more beneficial in the long run than a tax deduction now and taxable distributions later.
‎June 4, 2019
2:10 PM