DEDUCTIBILITY OF TRADITIONAL IRA CONTRIBUTIONS
01.Core Concepts
(1 OF 2) 3 Categories for Deductibility 1. No plan (not active participant) – no limit on income for deductibility 2. Taxpayer(s) is(are) active participant(s) – 2025 AGI phaseouts: • Single: $79,000 to $89,000 • MFJ: $126,000 to $146,000 3. Married couple: 1 active, 1 not – each spouse has different AGI phaseout range: • Spouse covered by plan at work: $126,000 to $146,000 • Spouse not covered by plan at work: $236,000 to $246,000