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pascajams
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My AGI was $74000. My $4000 IRA contribution was not deductible. With $7200 of unemployment, will that be now deductible?

 
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2 Replies

My AGI was $74000. My $4000 IRA contribution was not deductible. With $7200 of unemployment, will that be now deductible?

deleted.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

My AGI was $74000. My $4000 IRA contribution was not deductible. With $7200 of unemployment, will that be now deductible?

No.   The IRA deduction limit is calculated on the original AGI before applying the unemployment adjustment per the American Rescue Plan.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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