monicac
Level 4
05-03-2021
08:53 PM
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I have a client that made self employment net income of $6995, her spouse worked for a company covered by a retirement plan. Their AGI is $154,755 she is 70 1/2 and she made an IRA contribution of $7,000 but California says it's disallowed. From everything I have read it should not be disallowed.
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sjrcpa
Level 15
05-03-2021
09:10 PM
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Did CA conform to the federal age limit change?
The more I know the more I don’t know.
monicac
Level 4
05-03-2021
09:19 PM
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You are correct Ca. did not conform to the repeal of maximum age of 70 1/2 for traditional IRA contributions!
Thanks!!
sjrcpa
Level 15
05-03-2021
09:20 PM
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You're welcome.
The more I know the more I don’t know.
