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If a person receives an IRA distribution of $1079 (due to a rollover) in the same year that he makes an IRA contribution of $1925 from his earned income, do these two events have any effect on each other? Can he still deduct the full $1925? Are the taxes on his distribution different than they would have been without the contribution? Is this covered in Any IRS publ. that you know of? This person is 70 years old but will not become 70 1/2 in the tax year.
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