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First of all, the Roth contribution is based on Modified AGI, or MAGI. (See IRS Publication 590 for details on calculating MAGI ) The MAGI accounts for, among other things, your 401(k) contribution, so any additional money you add to your 401(k) will allow you a higher Roth contribution when you are in the partial contribution income range.

Yes I did look at the MAGI and that's assuming I contributed to any retirement account in 2006 (which I did not). I started in 2007. So only an AGI applies to me. So you are correct in your note as I did read the IRS 590 Publication.

Yes I think 12% I'll adjust to soon. I just upped it to 10% so for now that's fine.

I'll re-read the thread to read the pro's and con's of a non-deductible IRA (because I'm way over the limit for AGI for deductible contributions).

Thanks for the advice AJ.


P.S. - How do you get my comments in "italics"? I can't seem to do it in the browser on the boards?
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