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Question
Can I contribute to my traditional ira if I made $100000 this year?
AI accountant’s answer:
Yes, you can contribute to a Traditional IRA if you made $100,000 this year. For the 2022 tax year, the contribution limit is $6,000 if you're under 50 years old or $7,000 if you're 50 or older. However, if you or your spouse are covered by a retirement plan at work, such as a 401(k), the deductibility of your Traditional IRA contributions may be subject to income limits. For 2022, if you're covered by a workplace retirement plan, the deductibility of your Traditional IRA contributions starts to phase out at a Modified Adjusted Gross Income (MAGI) of $68,000 for single filers or $109,000 for married couples filing jointly. The deductibility phases out completely at a MAGI of $78,000 for single filers or $129,000 for married couples filing jointly. If you don't have access to a workplace retirement plan, your Traditional IRA contributions are generally fully deductible regardless of your income level. If only your spouse has access to a workplace retirement plan, the deductibility of your IRA contributions starts to phase out at a MAGI of $204,000 and phases out completely at $214,000 for the 2022 tax year.
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Michael Eaton, CPA
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Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

Find write-offs.
File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

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Ask an AI Accountant

A free tool by

Question
This is some text inside of a div block.
AI accountant’s answer:

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Comment from reviewer
This is some text inside of a div block.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

Not Correct.
Icon check
Looks good

Keeper’s AI Accountant

This AI accountant is powered by GPT-4, but has up-to-date knowledge of tax law. It’s been trained on federal and state tax updates for 2023. With credentialed tax professionals fact-checking its responses, it applies IRS rules to real-world situations.

Find write-offs.
File taxes.

Keeper helps independent contractors and freelancers discover tax deductions and file taxes.

Get started