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Deducting IRA contribution when also having 401k
For 2023 I contributed to a retirement 401k account through work.. with that in mind I would like to also deposit about 5,000 dollars into an IRA to lower my taxable income… am I allowed to do that since I’m contributing to a 401k at work or would I need to have my wife do that so I can deduct it?
January 16, 2024
4:32 PM