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Yes, if you qualify to contribute to a Traditional IRA. You must do so for 2020 by May 17 (2021).
But note that a few states do not have this provision for state taxes.
Yes, your traditional IRA contributions may be tax-deductible. The deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. Please see IRA deduction limits for details.
The total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:
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