Traditional IRA Deduction Phaseout Chart (if taxpayer is covered by employer retirement plan)
Table 1 Effect of Modified AGI on Traditional IRA Deduction (if taxpayer is covered by employer retirement plan) |
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Filing Status | A full deduction is allowed: | A partial deduction is allowed: | No deduction is allowed: |
Single or Head of Household | $73,000 or less | More than $73,000 but less than $83,000 | $83,000 or more |
Married Filing Jointly or Qualifying Widow(er) | $116,000 or less | More than $116,000 but less than $136,000 | $136,000 or more |
Married Filing Separately* | Less than $10,000 | $10,000 or more | |
* If the taxpayers did not live with their spouse at any time during the year, their filing status is considered Single for this purpose. |