2000 Tax Help Archives  

Chapter 18 - Individual Retirement Arrangements (IRAs)

Important Change

This is archived information that pertains only to the 2000 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

Modified AGI limit for traditional IRA contributions increased.
For 2000, if you are covered by a retirement plan at work, your deduction for contributions to a traditional IRA will be reduced (phased out) if your modified adjusted gross income (AGI) is between:

  • $52,000 and $62,000 for a married couple or a qualifying widow(er) filing a joint return,
  • $32,000 and $42,000 for a single individual or head of household, or
  • $-0- and $10,000 for a married individual filing a separate return.

For all filing statuses other than married filing a separate return, the upper and lower limits of the phaseout range increased by $1,000. See How Much Can I Deduct? later.


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