Govind, age 31, earns a salary of $56,000 and is not an active participant in any other qualified plan. His wife, Olga, reports $600 of compensation income. The maximum total deductible contribution to their IRAs is 12,000 X. Feedback Check My Work Employees not covered by another qualified plan can establish their own tax deductible Individual Retirement Accounts (IRAs). However, the amount of the contribution and the extent to which it is deductible may be limited.