I'm due to pay $8000 in federal taxes, I'm married and filing jointly. If I put some $$ ($3000) in my retirement account will it reduce my federal tax payout?

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It may. If your income is within the range to qualify for a deduction, it can reduce your balance due.

To enter it and find out the new tax balance due, go to Deductions & Credits and then Retirement & Investments. Click Start beside Traditional and Roth IRA Contributions.

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I still have not received my taxes. The tracker still says it's only been received and not approved yet. I filed February 13. $78 deducted from my account last night.

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I'm due to pay $8000 in federal taxes, I'm married and filing jointly. If I put some $$ ($3000) in my retirement account will it reduce my federal tax payout?

I'm due to pay $8000 in federal taxes, I'm married and filing jointly. If I put some $$ ($3000) in my retirement account will it reduce my federal tax payout?

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I'm due to pay $8000 in federal taxes, I'm married and filing jointly. If I put some $$ ($3000) in my retirement account will it reduce my federal tax payout?

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I'm due to pay $8000 in federal taxes, I'm married and filing jointly. If I put some $$ ($3000) in my retirement account will it reduce my federal tax payout?

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