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Just getting back to the thread - thanks for the replies and the helpful info. Didn't realize it is just an IRA, and I am glad for the rules explanation.

Just a couple follow-up questions if I may.

I am going to contribute to this account to offset some extra income. This year I almost had to pay but had a small refund. Every dollar I put into this IRA (as opposed to my Roth IRA), can I expect that much added to my refund next year, assuming ideally everything is the same? (I am just making that assumption to illustrate the principle at work.) Example: if I received $50 back and put in $100, will I receive $150? Or maybe it doesn't work that way?

My second question involves opening another IRA at a different brokerage, where I have my Roth. I like that brokerage better. I just want to be sure: I can do that, just open up another one, even though there is this existing one? (Cool thing about that too is I can use two for different strategies.) But...do I have to keep track of how much I put in vis a vis the limit, or will both IRAs be linked in that sense...will both know how much I put in and tell me how much I have left to go? In other words, if I put in $100 in one, will the limit go down in both counters? I didn't know if somehow they will be linked to the IRS and each will realize what the other one is receiving in terms of deposits.

Thanks again...
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