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What is the allowable ira deduction

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Reference no: EM132703838

Question - A single taxpayer contributed $6,300 to their traditional IRA on November 4, 2020. Payer is covered under their employer's retirement program. The following is the total income for 2020:

Wages: $72k

Dividends: 4.8k

Interest: 8k

Veteran ED Benefits: $5k

Required - What is the allowable IRA deduction on their 2020 income tax return?

Reference no: EM132703838

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