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For the 2022 tax year, the maximum amount you can contribute to a traditional IRA for the tax deduction is $6,000 if you're under 50 years old. If you're 50 or older, you can make an additional catch-up contribution of $1,000, bringing the total to $7,000. Keep in mind that the actual tax deduction you'll receive depends on your income, filing status, and whether you or your spouse are covered by a retirement plan at work.