Since you are covered by an Employer Sponsored Retirement Plan, your ability to make a Deductible IRA contribution phases out when your Modified Adjusted Gross Income (MAGI) hits certain levels based on your filing status:
- Married Filing Joint or Qualified Widow: Phases out between $99,000-$119,000
- Single or Head of Household: Phases out between $62,000-$72,000
- Married Filing Separate: Phases out between $0 - $10,000. (Married individuals who live apart at all times during the year are treated as Single).
For more information check out the TurboTax FAQ below:
https://ttlc.intuit.com/replies/3301534
