A traditional IRA is a great option for those looking to save for retirement in a tax-deferred account. However, there are many factors to consider when determining whether a you are eligible to make contributions, and whether such contributions will be deductible or not.

To help make the analysis easier, we have created the ”Can I Make A Deductible IRA Contribution” flowchart. It addresses common factors affecting eligibility rules for traditional IRAs, including:

  • Earned income
  • Coverage under an employer plan
  • Other (Roth) IRA contributions
  • Filing status-based MAGI thresholds

Flowchart: Can I Make A Deductible IRA Contribution - 2020

Flowchart: Can I Make A Deductible IRA Contribution - 2021

See Also:

Can I Make A Backdoor Roth IRA Contribution?

Should I Contribute To My Roth IRA vs. My Traditional IRA?

Important Numbers & Limits This Year