Every Single Tax Deduction You Could Possibly Ask For

IRA Contributions

Although IRS rules don’t allow deductions for Roth IRA contributions, you might be able to claim the amount you put in a traditional IRA, as long as you — and your spouse, if married — don’t have an employer-based retirement account.

For 2017 and 2018, you could have taken a deduction up to the full amount of allowable contributions, which was $5,500 — or $6,500 if you’re 50 and older. For 2019, those numbers increase to $6,000 and $7,000 if you’re 50 and older.

PREV 1 ... 22 23 24 ... 40NEXT

Leave a Comment

Your email address will not be published. Required fields are marked *

4 thoughts on “Every Single Tax Deduction You Could Possibly Ask For”

  1. Much Appreciated info in a great floor Mate easy to understand I will be asking some questions this year from our tax man this year 2019

related posts