Row 2605

Row ID: 2605 | Dataset Entry | Axioma AXP Content Repository

Content Data

This page contains data entry 2605 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

No, not a new rule, because there is no income limit to deduct IRA contributions if you're not covered by a workplace retirement plan. You can make $1,000,000/yr and contribute (and deduct) $7,000 for 2024.

The [IRS definition of "covered" is wonky](https://www.irs.gov/retirement-plans/are-you-covered-by-an-employers-retirement-plan), but for a defined contribution plan like a 401k, if any money went into the plan, you're covered for the year. So if you also contribute to a Trad IRA, those contributions are non-deductible.

FieldValue
text No, not a new rule, because there is no income limit to deduct IRA contributions if you're not covered by a workplace retirement plan. You can make $1,000,000/yr and contribute (and deduct) $7,000 for 2024. The [IRS definition of "covered" is wonky](https://www.irs.gov/retirement-plans/are-you-covered-by-an-employers-retirement-plan), but for a defined contribution plan like a 401k, if any money went into the plan, you're covered for the year. So if you also contribute to a Trad IRA, those con…
label r/financenews
dataType comment
communityName r/FinanceNews
datetime 2023-11-16
username_encoded Z0FBQUFBQm5LakwwRVp5WGpCZUZoSFpmaFRjaXRvRlVsaTlWVlVDeHo3WlRPcjlnS3lrZ0lXb1VyZDZva0Jha0hRX1dBd3JVUk9oQ1NMUUxFMjRnVjJITU9yZERnRXNsRHc9PQ==
url_encoded Z0FBQUFBQm5Lak9FR0plT0JUN2FZNGRzN1o5WUNYUG9yTS1ZaURYcncwLU1EZzNPY2lOaEt0MDU1UDBwZng3Q2h2WmtNZ2lvam5vNjk1cEJmWDhzZUJiYXgtTGw4UzZQSGk4UlZIWDVFc3hUWkMzaGlabXRYRklYQ3N4ZDJZYkpBckctNk5KaDRZRXNCZXBMR0E5TjgtYVZfa0tzRlBneG9Hb2R3Z2lHdEhiNXVJYVZ3aDVlNi1OTm9LZW1iYnRnYVRQTkFQdmtzSHdIWTJNTmdST2pVLVFaQ05pUVR3RmR1UT09

Raw Record

{
  "text": "No, not a new rule, because there is no income limit to deduct IRA contributions if you're not covered by a workplace retirement plan. You can make $1,000,000/yr and contribute (and deduct) $7,000 for 2024.\n\nThe [IRS definition of \"covered\" is wonky](https://www.irs.gov/retirement-plans/are-you-covered-by-an-employers-retirement-plan), but for a defined contribution plan like a 401k, if any money went into the plan, you're covered for the year. So if you also  contribute to a Trad IRA, those contributions are non-deductible.",
  "label": "r/financenews",
  "dataType": "comment",
  "communityName": "r/FinanceNews",
  "datetime": "2023-11-16",
  "username_encoded": "Z0FBQUFBQm5LakwwRVp5WGpCZUZoSFpmaFRjaXRvRlVsaTlWVlVDeHo3WlRPcjlnS3lrZ0lXb1VyZDZva0Jha0hRX1dBd3JVUk9oQ1NMUUxFMjRnVjJITU9yZERnRXNsRHc9PQ==",
  "url_encoded": "Z0FBQUFBQm5Lak9FR0plT0JUN2FZNGRzN1o5WUNYUG9yTS1ZaURYcncwLU1EZzNPY2lOaEt0MDU1UDBwZng3Q2h2WmtNZ2lvam5vNjk1cEJmWDhzZUJiYXgtTGw4UzZQSGk4UlZIWDVFc3hUWkMzaGlabXRYRklYQ3N4ZDJZYkpBckctNk5KaDRZRXNCZXBMR0E5TjgtYVZfa0tzRlBneG9Hb2R3Z2lHdEhiNXVJYVZ3aDVlNi1OTm9LZW1iYnRnYVRQTkFQdmtzSHdIWTJNTmdST2pVLVFaQ05pUVR3RmR1UT09"
}
Explore Dataset Explore Row

Entry Information