WHO CAN DEDUCT CONTRIBUTIONS TO A TRADITIONAL
01.Core Concepts
IRA? • Taxpayer(s) is(are) not an active participant. • No AGI phaseout limit • Taxpayer(s) is(are) an active participant. • Single AGI phaseout $81,000 - $91,000 (2026) • MFJ AGI phaseout $129,000 - $149,000 (2026) • One spouse is an active participant; the other spouse is not. • Non-active participant spouse AGI phaseout $242,000 - $252,000 for 2026. • Active participant spouse follows MFJ AGI phaseout