2012 IRA Contribution and Deduction Limits - Effect of Modified AGI on Deductible Contributions If You ARE Covered by a Retirement Plan at Work
If you are covered by a retirement plan at work, use this table to determine if your modified AGI affects the amount of your deduction.
|
If Your Filing Status Is... |
Then You Can Take... | |
|---|---|---|
| single or head of household |
$58,000 or less |
a full deduction up to the amount of your contribution limit. |
|
more than $58,000 but less than $68,000 |
a partial deduction. |
|
|
$68,000 or more |
no deduction. |
|
| married filing jointly or qualifying |
$92,000 or less |
a full deduction up to the amount of your contribution limit. |
|
more than $92,000 but less than $112,000 |
a partial deduction. |
|
|
$112,000 or more |
no deduction. |
|
| married filing separately |
less than $10,000 |
a partial deduction . |
|
$10,000 or more |
no deduction. |
|
| If you file separately and did not live with your spouse at any time during the year, your IRA deduction is determined under the "single" filing status. | ||
Page Last Reviewed or Updated: 03-Aug-2012
