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Fact or Fiction?

I have heard that you can put more than $2000 into a self directed IRA, but only the first $2000 is deductible from your income tax. The $2000 plus any extra money put in, then grows tax free and the investments are not taxed until taken out. In theory you can put as much money as you want into a self directed IRA.

Has anyone done this or know if this is true? If this can be done, I'd love to know more.

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