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How much of my Traditional IRA contribution is deductible in 2021?

SOLVEDby TurboTax2538Updated December 27, 2021

For any Traditional IRA deduction, you must have earned income. If you do, there are a couple of possibilities. If you (and/or your jointly-filing spouse) didn't contribute to an employer-sponsored or self-employed retirement plan like a 401(k), your entire Traditional IRA contribution is deductible.

But if you (and/or your jointly-filing spouse) did contribute to an employer-sponsored or self-employed retirement plan in 2021, the amount you can deduct depends on your tax filing status and modified adjusted gross income (MAGI).

If your MAGI is:

  • Below the phase-out range, your entire contribution is deductible
  • Above the phase-out range, you can't deduct anything
  • Within the phase-out range, you can make a partial deduction (we'll calculate this for you)

Here are the MAGI phase-out ranges for tax year 2021 if you were covered by a retirement plan at work:

  • Single, head of household, or married filing separately (not living with spouse): The phase-out range is $66,000 – $76,000
  • Married filing jointly or qualified widow(er): The phase-out range is $105,000 – $125,000
  • Married filing separately (living with spouse): The phase-out range is $0 – $10,000

If you weren't covered by another retirement plan at work, but your spouse was, and you're:

  • Filing jointly: the phase-out range is $198,000 – $208,000
  • Filing separately, the phase-out range is $0 – $10,000

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