gjs@mtgzy.UUCP (g.j.shevchuk) (09/10/86)
I'd like to clear up a few points regarding the new rules for IRAs. Anyone can still have an IRA, where the interest/dividend income is tax-deferred. The deductability of the contributions to the IRA, however, are allowed for any who do not have a company pension plan, as well as for singles earning under $25K (even with a pension plan) or couples earning under $40K. The allowable deductible contribution then decreases to zero linearly over the next $10K of income; i. e., singles hit zero at $35K, couples at $50K.