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IRA deduction limit IF you have 401k or other retirement accounts. | FinTips

IRA deduction limit IF you have 401k or other retirement accounts. | FinTips
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Today we’re covering the income limits for getting the full deduction on your traditional IRA contributions. We’ll look at the income limits if you have a 401k at work as well as if your spouse has a 401k or other workplace retirement account.

Link to calculate MAGI:
https://www.irs.gov/publications/p590a#en_US_2019_publink100025076

IRA Deduction Tips: The past often repeats itself, and that holds true with stocks. While it is not guaranteed, trends tend to continue. Always look at the history of the company you want to invest in before you make any decisions. Of course, you also have to consider what is going on currently with the company.

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Written by Bobby

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