BEWARE OF THE 'ACTIVE PARTICPANT' WRINKLE FOR IRA DEDUCTIONS.

Autor: Blum, Lisa M., Coppage, Ricahrd E.
Zdroj: Practical Tax Strategies; Feb2008, Vol. 80 Issue 2, p84-91, 8p
Abstrakt: The article explains the legal meaning of "active participant" for individual retirement accounts (IRA) in the United States. The author explains that the allowable contribution amount for a Roth IRA for all taxpayers begins to decrease once the taxpayer's modified adjusted gross income (MAGI) reaches a certain level. The author also explains how MAGI is computed.
Databáze: Supplemental Index