What amount of an IRA is tax deductable?

jamiesanin — Thu, 06 Jun 2019 05:37:49 GMT

If I open up an IRA and deposit money into it, is that entire deposited amount tax deductable?

Simple answer: yes. There are limits on how much you can...

Hal_Al — Thu, 06 Jun 2019 05:37:50 GMT

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

topic What amount of an IRA is tax deductable? in Retirement tax questions

What amount of an IRA is tax deductable?

Simple answer: yes. There are limits on how much you can...