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You don't have excess contributions because IRAs and 401ks are two separate things, and you are within the contribution limits for both.
Whether the $5500 traditional IRA is deductible is another story. If your modified AGI (roughly, your income) was less than certain limits then the entire contribution is deductible. The limits are $61k for an individual return and $98k for a joint return.
See the IRS chart here: IRA deductibility - covered by employer plan
The $1560 401k contribution will be deductible, regardless of income.
You don't have excess contributions because IRAs and 401ks are two separate things, and you are within the contribution limits for both.
Whether the $5500 traditional IRA is deductible is another story. If your modified AGI (roughly, your income) was less than certain limits then the entire contribution is deductible. The limits are $61k for an individual return and $98k for a joint return.
See the IRS chart here: IRA deductibility - covered by employer plan
The $1560 401k contribution will be deductible, regardless of income.
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