IRA Phase-Out Calculator
Instructions for Using the IRA and Roth IRA Calculators
To use the IRA Deduction Phase Out Calculator, the Reduced Roth IRA Contribution Calculator, and the MAGI Calculator for Roth IRA, simply input your income details and other relevant information. The calculators will provide instant results on your eligibility and contribution limits.
IRA Deduction Phase Out Calculator
This calculator helps you determine if your IRA contributions are tax-deductible based on your income and filing status. If your income falls within the phase-out range, your deduction may be limited.
Reduced Roth IRA Contribution Calculator
Use this calculator to find out how much you can contribute to a Roth IRA. Your ability to contribute might be reduced if your income surpasses certain thresholds.
MAGI Calculator for Roth IRA
The Modified Adjusted Gross Income (MAGI) Calculator helps you calculate your MAGI to determine your eligibility for Roth IRA contributions.
FAQ
What is an IRA Deduction Phase Out?
The phase-out is a range of income where the tax deduction for traditional IRA contributions gradually reduces to zero.
How is MAGI different from AGI?
MAGI includes certain deductions added back to AGI, which can impact eligibility for Roth IRA contributions.
Can I contribute to both a traditional IRA and a Roth IRA?
Yes, you can contribute to both, but the total contributions to both accounts must not exceed the annual limit.