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I did try to look into some of my fineagling before i started - Ha Ha

"No. Being eligible for a retirement plan at work just makes the mAGI thresholds for deductibility lower. If your income is low enough, you can still deduct Traditional IRA money."

And in my case i wasnt able to deduct it all, but was able to contribute and now will simply carry a cost basis forward for the remainder of the contribution that was not deductible.

but good points all, the investments have not gone gangbusters so the penalty will definitely be the best case scenario....
IM just still frustrated that she got paid through a 1099-G instead of fellowship income that was reported via a w-2 form, but se la vie.
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