MinhT1
Expert Alumni

Self employed

Being covered by a retirement plan at work does not necessarily prevent you from making a deductible IRA contribution.

 

Your eligibility to a deductible IRA contribution depends on your filing status and your modified Adjusted Gross Income (MAGI).

 

For example, if you file Single and your MAGI is $77,000 or less, you are entitled to a full deduction of your IRA contribution.

 

Please read this IRS document for more information.

 

 

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