Employer Retirement Plans
What are the rules for deducting IRA contributions?
If you (or your spouse) are covered by an employer retirement plan, whether you can deduct any or all of your contributions depends on:
-
Your filing status, and
-
Your modified AGI (your AGI figured without an IRA deduction or student loan interest deduction plus certain excluded income such as interest on qualified US savings bonds).
The tables on the next page show whether you can take a full deduction, partial deduction or no deduction of your IRA contributions.
If you are covered by an employer retirement plan
Effect of modified AGI on deduction if you are covered by retirement plan at work.
If your tax filing status is.. |
and your modified AGI is.. |
then you can take.. |
|
Single
or
Head of household |
$50,000 or less |
a full deduction |
|
more than $50,000 but less than $60,000 |
a partial deduction |
|
|
$60,000 or more |
no deduction |
|
Married filing jointly
or
Qualifying widow(er) |
$75,000 or less |
a full deduction |
|
more than $75,000 but less than $85,000 |
a partial deduction |
|
$85,000 or more |
no deduction |
| Married filing separately |
less than $10,000 |
a partial deduction |
|
$10,000 or more |
no deduction |
| 
