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Anyway, from what I can gather, AGI of 160k is the absolute limit for any kind of IRA contribution. I won't likely find 10k in losses to drop our AGI any more. Legal suggestions???

(1) If you (you personally - your spouse doesn't matter on this one) are NOT covered by a qualifying pension plan, but you (or your spouse, IF you are married and file jointly) have earned income, you can fund a conventional IRA with DEDUCTIBLE contributions. I don't think there's any upper income limit at all on that.

Catch is, I think that being covered by a qualifying pension plan for any one paycheck in the year, counts as being covered for the whole year.

(2) If you have earned income, you can make NON-DEDUCTIBLE contributions to a conventional IRA. I don't think there's an upper limit on that either. When you make any withdrawal, a fraction of that withdrawal will be taken from non-deductible contributions and therefore NOT be taxed. However I think the penalty on non-qualifying withdrawals still applies. If you're a trader or putting your money in income-producing (rather than capital-gains-producing) investments, this may make sense; if you're buying low- or no-dividend stocks for the long haul, such as most index funds, it probably doesn't.
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