Keep in mind that we will talk today about these income limits apply to you if you have a retirement plan at work.
Single
– $68,000 or less that that = Full deduction
– More than $68,000 but at the same time less than $78,000 = Partial deduction
– $78,000 and more = No deduction
Married filing jointly + covered by retirement plan at work
– $109,000 or less than that = Full deduction
– More than $105,000 but at the same time less than $125,000 = Partial deduction
– $129,000 and more = No deduction
Married filing separately + you are covered by retirement plan at work
– Less than $10,000 = Partial deduction
– $10,000 and more = No deduction
Married filing jointly + your partner is covered by retirement plan at work
– $204,000 or less than that = Full deduction
– More than $204,000 but at the same time less than $214,000 = Partial deduction
-$214,000 and more = No deduction
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