Entry from US English dictionary
Not allowable as a deduction from income for the calculation of taxes.
- Prior to 1998, individuals who wanted to fund an IRA could make either a deductible or nondeductible contribution to a Traditional IRA.
- He will find methods of converting nondeductible expenses into deductible ones.
- However, to the extent you made nondeductible contributions to a retirement account, those amounts will not be protected.
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