It depends. You might not be able to deduct
all of your traditional IRA contributions if you or your spouse participates in
another retirement plan at work. That’s because the deduction is phased out if
your income exceeds certain levels. See these links to
see charts showing how the income limits
would apply to you.
Traditional
IRA Basis is the amount of nondeductible contributions that you've made over the time that you've had it.
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