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Who can deduct and IRA?

Answered by: 

Question: 
If the customer makes too much money, can he or she still deduct the Traditional IRA?
Answer: 

If the customer is covered by a qualified retirement plan where he or she works, then the deductibility of the IRA may be affected by the income. It is not income alone that affects deductibility of a Traditional IRA.

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First published on 01/03/2021

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