Mutual Fund Education Alliance - Investment Goals - IRA
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Are IRA contributions tax-deductible?
Traditional IRA Roth IRA
Yes - Subject to retirement plan participation status and Adjusted Gross Income (AGI) limits:
      Full deductibility of 2009 contribution 
         is available for active participants in a 
         retirement plan whose 2009 AGI is 
         $89,000 or less (jointly) and $55,000 
         or less (single).
      Partial deductibility of 2009 
         contributions is available for active 
         participants in a retirement plan whose 
         2009 AGI is up to $109,000 (jointly) 
         and up to $65,000 (single).
No

 

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