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Deducting Individual Retirement Arrangements (IRAs) Contributions at a Glance


You may be able to deduct some or all of your contributions to a traditional IRA, or be eligible for a tax credit equal to a percentage of your contribution. To contribute to a traditional IRA, you must be under age 70½ at the end of the tax year and have taxable compensation, such as wages, salaries, commissions, tips, bonuses, or net income from self-employment.

More Information

Topic 451 - Individual Retirement Arrangements (IRAs)

Related Forms

Form 1040, U.S. Individual Income Tax Return (PDF)

Form 1040, Schedule A, Itemized Deductions (PDF)

Related Publications

Publication 17, Your Federal Income Tax - Chapter 17, Individual Retirement Arrangements (IRAs) - Essential guidance

Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs)- Detailed guidance

Page Last Reviewed or Updated: 07-Sep-2016