Is an IRA deductible?

Money contributed to a Traditional IRA may be fully or partially deductible from total income as an adjustment to income. If you (or your spouse, if married filing jointly) are covered by an employer-sponsored plan, there’s a phase-out range. Roth IRAs contributions are not deductible. 

The limit for IRA contribution limit for 2023, whether Roth or Traditional, per the IRS, are: 

For the prior years of 2019-2022:

Per the IRS, IRA management fees are not deductible on your federal tax return.

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