1 Consult your tax advisor, as there are phase-out ranges for IRA contribution deductibility based on modified adjusted gross income (MAGI) ranges that are published annually and correspond to your federal tax filing status (married, filing jointly; married, filing separately; or single) and whether you or your spouse participate in an employer-sponsored retirement plan.
Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Bank of America is a marketing name for the Retirement Services business of Bank of America Corporation.
This material should be regarded as general information on Healthcare and Social Security considerations and is not intended to provide specific healthcare or social security advice. If you have questions regarding your particular situation, please contact your legal or tax advisor.