IRA's and Deductions?

Discussion in 'Business Operations' started by tiedeman, Feb 5, 2005.

  1. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    I am trying to find some info on the IRS website about how much I contribute to an IRA, that I can deduct from my taxes that I owe. Anybody have any advice or where I can find it on the site please let me know.

    Thanks
     
  2. T Edwards

    T Edwards LawnSite Member
    Posts: 230

    1040 Instructions
    P.27 IRA Deduction Worksheet
     
  3. tiedeman

    tiedeman LawnSite Fanatic
    from earth
    Posts: 8,745

    much thanks
     
  4. jcr4au

    jcr4au LawnSite Member
    Posts: 48

    I dont have a link but I am pretty confident for a sole pro. it is 25% or $40K of your net income.
     

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