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Traditional IRAs (deductibility of contributions): Taxpayer: John and Cindy Taylor Filing Status: Married filing Jointly Age: 40s AGI: $110,000 (John participates in a 401(k) at
Traditional IRAs (deductibility of contributions): | ||
Taxpayer: | John and Cindy Taylor | |
Filing Status: | Married filing Jointly | |
Age: | 40s | |
AGI: | $110,000 | |
(John participates in a 401(k) at work, but Cindy does not.) | ||
John: | ||
AGI before IRA Deduction | ||
Phaseout Threshold | ||
Excess AGI | ||
Phaseout % (Excess/20,000) | ||
Maximum Contribution | ||
Deduction Phaseout | ||
Deductible Contribution |
Income tax law
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