Are Traditional IRA contributions tax-deductible?
One of the benefits of contributing to a Traditional IRA is that the contribution may be tax deductible. Whether a contribution or a portion of a contribution is deductible depends on active participation (participating in or receiving contributions) in an employer-sponsored retirement plan, marital status, and modified adjusted gross income (MAGI).
IRA Deductibility Phase-Out Ranges for Active Participants
| Filing Status | 2021 MAGI | |
| Single and Head of Household | $66,000-$76,000 | |
| Married Filling a Joint Tax Return | $105,000-$125,000 | |
| Non-active Participant Married to an Active Participate | $198,000-$208,000 | |
| Married Filing Separate Tax Return | $0-$10,000 |