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Author: koelle One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121255  
Subject: 2002 (Roth) IRA Tax Credit Date: 1/17/2002 8:52 PM
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Will there a place to deduct Roth IRA contributions on the 2002 Forms
or would AGI mean for instance:
Single person's salary $14,500, Interest and dividends $ 500,
= AGI $15,000.
Tax Liability Estimated on $15,000 - STD Ded. $4,700 - Exemp. $3,000,
taxable $7,300 @ 15% - $300 = $795.
$ 2,000 contribution to a (Roth) IRA = up to $1,000 tax credit
= $795 tax is wiped out.
Or could it be:
Salary $16,500, Interest & Dividends $500 = $17,000
less $2,000 Roth IRA Contribution = $15,000 with the same result
as above?
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