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- If client has a MAGI over $125,000 from pensions and investments, and has a small business, is he still allowed an IRA deduction?
If client has a MAGI over $125,000 from pensions and investments, and has a small business, is he still allowed an IRA deduction?
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newtoyou
Level 1
03-01-2022
07:54 AM
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qbteachmt
Level 15
03-01-2022
02:52 PM
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"and has a small business, is he still allowed an IRA deduction"
How small is Small? Is that already in the MAGI? Is there an SEP plan? The IRS has some great resources:
A helpful suggestion: Next time you start a topic, it would be helpful to use the Title for Title, and put the content in the input panel.
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