'That '70s Show' Reunion: Cast Sings Show Theme Song Together. While a Friends reunion may be the talk of TV lately, anyone hoping for a That '70s Show gathering may have been met with a welcome surprise if they follow Danny Masterson on Instagram. We need Santa hats and caroling books.
1 If you and your partner file are married filing jointly, the IRA deduction begins to phase out when you reach $98,000 and tops out at $118,000. 2  This represents an increase of $2000 from 2014. If your filing status is head of household or single, your IRA tax deduction starts to phase out when your AGI reaches $61,000 and completely disappears when you reach $71,000.
The individual may contribute to the Roth IRA for the year at the reduced level while deciding if another type of retirement account would provide a better arrangement. If the individualâs MAGI for the year exceeds the phase-out range, the individual is not permitted to contribute to a Roth IRA at all for the year. An individual may become subject to these limitations for a tax year, for example, if the individual receives a raise or promotion during the year. Read more about phase out here: https://www.irs.gov/publications/p590a/ch02.html.