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Self employed
If the IRA is a deductible contribution it will be entered as an Adjustment to Income reducing your Adjusted Gross Income. The deductible contribution is Not a one-for-one reduction of taxes owed.
You can contribute to an IRA at any time on or before April 15, 2022 for it to be included on a 2021 tax return.
‎October 27, 2021
2:51 PM