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I made a deposit into my IRA of $100.00 in August of 2016 is this deductible

 
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1 Reply
pgreenlie
New Member

I made a deposit into my IRA of $100.00 in August of 2016 is this deductible

As with many things regarding taxes...it depends.  If this was a traditional IRA, and your income is low enough to qualify, and you have not exceeded your contributions for tax year 2016 it should be deductible.  Roth IRA's generally are not.

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