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Hi Phil,
At this point, we have NO traditional IRA accounts, including SEPs, SIMPLEs and rollovers from employer plans. This is part of my confusion. Most of the info in publication 590 refers to limits if you have an existing employer plan. We do not have ANY existing IRA's, so that is part of why I posted here.

As for our CPA - we are not happy with him and part of the reason is HIS answer to this question. He has told us we make over the limit to be able to have an IRA, and I am posting here and doing research to find the "real" answer to that question, so I can fully understand it, and then perhaps we will be finding a new CPA. He basically does our taxes, but does little in the way of advice, if you know what I mean.

Can you provide me with any additional info now that I have told you we have NO IRA's presently? And what the limit is for EACH of us in opening a traditional IRA? Thanks for your help. I appreciate it.

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