Enrolled Agent Exam [Part 1] 27, Traditional IRA Contributions and Deductions

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: • The 2025 IRA contribution limits ($7,000) and the age 50+ catch-up provision ($1,000). • How "active participant" status on a W-2 is the first critical step in determining deductibility. • The Modified AGI phase-out ranges that limit deductions for active participants. • The critical contribution deadline which is the tax return's original due date, not the extended due date. • How spousal IRA rules allow non-working spouses to contribute and the unique deductibility rules that apply. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep