(Fun with Taxes - IRA Tool Box)

Traditional IRA Limits

  

Maximum Annual Contribution Limit $2,000 per person
Deductible IRA Eligibility Requirements-1999 If you are covered by an employer retirement plan, your IRA deduction is reduced or eliminated depending on your filing status and modified adjusted gross income.
FILING STATUS	FULL DEDUCTION	REDUCED DEDUCTION	NO DEDUCTION
Single/Head of Household	Below $31,000	$31,000-$41,000	$41,000 or more
Joint Return	Below $51,000	$51,000 to $61,000	$61,000 or more
Married-Separate return	Not available	$0-$10,000	$10,000 or more
Spouse Contribution If you are not covered by an employer retirement plan, but your spouse is, your IRA deduction depends on your filing status and adjusted gross income.
FILING STATUS	FULL DEDUCTION	REDUCED DEDUCTION	NO DEDUCTION
Joint Return	Below $150,000	$150,000 to $160,000	$160,000 or more
Married-Separate return	Not available	$0-$10,000	$10,000 or more
Deductible IRA Eligibility Requirements-2000 If you are covered by an employer retirement plan, your IRA deduction is reduced or eliminated depending on your filing status and modified adjusted gross income.
FILING STATUS	FULL DEDUCTION	REDUCED DEDUCTION	NO DEDUCTION
Single/Head of Household	Below $32,000	$32,000-$42,000	$42,000 or more
Joint Return	Below $52,000	$52,000 to $62,000	$62,000 or more
Married-Separate return	Not available	$0-$10,000	$10,000 or more
Spouse Contribution If you are not covered by an employer retirement plan, but your spouse is, your IRA deduction depends on your filing status and adjusted gross income.
FILING STATUS	FULL DEDUCTION	REDUCED DEDUCTION	NO DEDUCTION
Joint Return	Below $150,000	$150,000 to $160,000	$160,000 or more
Married-Separate return	Not available	$0-$10,000	$10,000 or more

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