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What amount of an IRA is tax deductable?
If I open up an IRA and deposit money into it, is that entire deposited amount tax deductable?
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posted
June 5, 2019
10:37 PM
last updated
June 05, 2019
10:37 PM
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What amount of an IRA is tax deductable?
Simple answer: yes.
There are limits on how much you can contribute (deposit) and limits on deductability based on your income and whether you, or your spouse have a retirement plan at your job. Details at https://www.irs.gov/retirement-plans/ira-deduction-limits
June 5, 2019
10:37 PM
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