|
2009 Guide to Traditional IRA Deductions
Click here for the 2008 Guide to Traditional IRA Deductions.
| Tax Filing Status |
Do you or your spouse participate in an employer’s retirement plan?1 |
Modified Adjusted Gross Income (AGI) |
Maximum Tax Deduction |
| Single |
No |
No limit |
Full $5,000 (or $6,000 if age 50 or older) |
| Yes |
$55,000 or less |
Full $5,000 ($6,000 if age 50 or older) |
| $55,001 to $64,999 |
Partial |
| $65,000 or more |
None |
| Joint |
No |
No limit |
Full $5,000 for each spouse ($6,000 if age 50) |
| Yes |
$89,000 or less |
Full $5,000 for each spouse ($6,000 if age 50) |
| $89,001 to $108,999 |
Partial for participating spouse(s); full $5,000 for a non-participating spouse ($6,000 if age 50) |
| $109,000 or more |
None for participating spouse(s); full or partial for a non-participating spouse if combined AGI is under $176,000 |
|
2008 Guide to Traditional IRA Deductions
Click here for the 2009 Guide to Traditional IRA Deductions.
| Tax Filing Status |
Do you or your spouse participate in an employer’s retirement plan?1 |
Modified Adjusted Gross Income (AGI) |
Maximum Tax Deduction |
| Single |
No |
No limit |
Full $5,000 (or $6,000 if age 50 or older) |
| Yes |
$53,000 or less |
Full $5,000 ($6,000 if age 50 or older) |
| $53,001 to $62,999 |
Partial |
| $63,000 or more |
None |
| Joint |
No |
No limit |
Full $5,000 for each spouse ($6,000 if age 50) |
| Yes |
$85,000 or less |
Full $5,000 for each spouse ($6,000 if age 50) |
| $85,001 to $104,999 |
Partial for participating spouse(s); full $5,000 for a non-participating spouse ($6,000 if age 50) |
| $105,000 or more |
None for participating spouse(s); full or partial for a non-participating spouse if combined AGI is under $169,000 |
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