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Retirement tax questions
The IRA contribution would not be tax deductible if:
- You took money out of a retirement account (NOT a rollover) within the last two years.
- If your MAGI exceeds the allowable income range (see How much of my Traditional IRA contribution is deductible?).
- If your total contribution for 2016 exceeds $5,500 ($6,500 if you are over age 50).
- You are older than age 70 1/2.
If none of these applies, write back.
‎June 6, 2019
2:54 AM