Deduction for Contributions. Only some contributions to traditional IRA contributions result in a tax deduction. If you and your spouse don't have retirement plans through your employer, you can always deduct your traditional IRA contribution. Employer plans include 403(b) plans, 401(k) plans or 457 plans.he amount that you save from your contribution equals your deduction amount times your marginal tax rate. For example, if you pay a 15 percent marginal tax rate, a $6,000 deduction only saves you $900. However, if you pay a 30 percent marginal tax rate, that same contribution saves you $1,800.
adj. something not yet performed or done. Examples: an executory contract is one in which all or part of the required performance has not been done; an executory bequest is a gift under a will which has not been distributed to the beneficiary.
It rejected CORâs contentions that the agreement should not be treated as an executory contract because the agreement is actually a âfinancing lease,â a âprepaid option,â or a form of secured real estate transaction that is not subject to the rules governing executory contracts in section 365 of the Bankruptcy Code.