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Updated over 4 years ago,
traditional IRA contribution?
-im entirely self employed
So, im looking at tradtional IRA contribution for the year and its based on mgai. If i made 175k for the year, and contributed the maximal to my solo 401k (57k), does that effectively bring my mgai down under 122k?
Does contributing maximal to your solo 401k affect your traditional IRA contribution or do they work concurrently?