The threshold is actually $123,000 for 2024 if you are married filing jointly and both of you are covered by a 401k plan. And the threshold is based on MAGI, not AGI. Also, you can take partial deduction above that threhold. You only take no deduction if your MAGI is more than $143,000Very much appreciate the replies....as I look closer, there is no deduction for a household income above an AGI of $116,000 so would have to ensure we would meet that requirement before even considering.
Statistics: Posted by i2cube — Thu Jun 20, 2024 10:52 pm — Replies 16 — Views 706