If you contribute 70000 to roll over IRA how much can you deduct filing jointly?

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1029118

2026-03-12 08:00

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First a $70,000 move of funds from a qualified plan to an IRA is not actually a contribution. It is a rollover or transfer from one custodian to another and is a non-taxable event.

Therefore, whether the tax filing status is joint, single, head of household or something else, no deduction is due from the movement of these funds from the employer's plan to an individual's IRA.

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