Welcome, Guest!

Check out the topic bundles including the Client Service Calendar and client engagement support materials

Designed to help advisors introduce our guides to a client.

Let us know what you want to see from us next!

Need help with something? Checkout our our FAQs.

Edit your settings and view your plan details.

Back

Can I Make A Deductible IRA Contribution?

Category:
Working / Accumulation Phase, Tax Planning, Assets and Investment Planning, General
Timely

Updated 12/1/2023

A traditional IRA is a great option for clients looking to save for retirement in a tax-deferred account. However, there are many factors to consider when determining whether a client is eligible to make contributions, and whether such contributions will be deductible or not.

To help make the analysis easier, we have created the ”Can I Make A Deductible IRA Contribution?” flowchart. It addresses common factors affecting eligibility rules for traditional IRAs, including:

  • Earned income
  • Coverage under an employer plan
  • Other (Roth) IRA contributions
  • Filing status-based MAGI thresholds

Related Guides
Can I Make A Mega Backdoor Roth Contribution?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning
Can I Do A Qualified Charitable Distribution From My IRA?
Category: Working / Accumulation Phase, Retirement / Decumulation, Tax Planning, Estate Planning, Assets and Investment Planning, General
Can I Make A Backdoor Roth IRA Contribution?
Category: Working / Accumulation Phase, Assets and Investment Planning, General
Can I Contribute To My Roth IRA?
Category: Working / Accumulation Phase, Assets and Investment Planning
Should I Contribute To My Roth IRA Vs. My Traditional IRA?
Category: Working / Accumulation Phase, Tax Planning, Assets and Investment Planning, General
Should I Contribute To My Roth 401(k)?
Category: Working / Accumulation Phase, Assets and Investment Planning
Can I Make A 529-To-Roth IRA Transfer?
Category: General, Working / Accumulation Phase, Tax Planning