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Article #960Re: 401(k) Advice Anyone?
From: g.j.shevchuk
Date: Wed, 10 Sep 1986 17:31
Date: Wed, 10 Sep 1986 17:31
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I'd like to clear up a few points regarding the new rules for IRAs. Anyone can still have an IRA, where the interest/dividend income is tax-deferred. The deductability of the contributions to the IRA, however, are allowed for any who do not have a company pension plan, as well as for singles earning under $25K (even with a pension plan) or couples earning under $40K. The allowable deductible contribution then decreases to zero linearly over the next $10K of income; i. e., singles hit zero at $35K, couples at $50K.
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Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Path: arc1-ca.pugleaf.net!utzoo!mnetor!seismo!gatech!akgua!lcuxlm!whuxl!houxm!mtuxo!mtgzy!gjs From: gjs@mtgzy.UUCP (g.j.shevchuk) Newsgroups: net.taxes Subject: Re: 401(k) Advice Anyone? Message-ID: <1978@mtgzy.UUCP> Date: Wed, 10-Sep-86 13:31:09 EDT Article-I.D.: mtgzy.1978 Posted: Wed Sep 10 13:31:09 1986 Date-Received: Thu, 11-Sep-86 07:31:02 EDT References: <77@mtxinu.UUCP>, <972@druhi.UUCP> Organization: AT&T Information Systems Labs, Middletown NJ Lines: 8