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I understand the income limitations for an educational IRA is around $90,000 after which some wording I have seen is that "a single individual CANNOT contribute..." Does that mean that he/she cannot take the deduction? What if, like a non-deductible IRA the contribution is made but not deducted? It would seem to me that it would still make sense to make the contribution since the earnings are tax sheltered even if the deduction cannot be taken in the present year.

Certainly an outright gift is possible but that would not be deductible for the giftee too.

Any help appreciated...

thanks and good luck
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