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401K, IRA, Tax deduction
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1. IRA limit
$5,500 (age 50+: $6,500)
If you contribute to 401k, ineligible. (If your spouse is not working, you can contribute IRA for her)
2. 401K
Your contribution: $17,500 (ago 50+ $23,000)
Total contribution: $52,000 (age 50+ $57.500) – It is very rare but there are 200%-300% matching on 401K.