 In a prior presentation, we looked at the IRA deduction in general. Now we're gonna look at a worksheet, which you can find on the Form 1040 instructions at the IRS website, irs.gov, irs.gov, helping us to calculate the actual deduction. Note that in practice, this would often be done with the software. The software can help you to calculate this, but just take it a quick look at this worksheet. Can help us to look at what the limitations are in terms of the max amount of the deductions possible in scenarios that are simple scenarios and scenarios that are more complex scenarios, scenarios where we might also have access to say a 401k plan or a 403b plan, or we're married to someone who has access to a 401k or 403b plan or something like that. Now remember the general scenario, I think the government concept, the idea the government has would be, they would like everybody to be basically employees of some kind and have access to like a 401k type of plan. And if you have access to the 401k plan, Plan, what plan? Then you need to max out whatever you can put into that 401k plan in the taxable year, that being 2022 that we are talking about here. And then if you don't have access to a 401k plan, that's when kind of like the IRA kicks in, so you could still get some of the advantages of being able to save for retirement and have some tax benefits. But it gets confusing when there's overlap in that you put money into a 401k plan, can you still put money into say an IRA? Or if your spouse has access to a 401k plan, can you put money into an IRA and you've got the income thresholds and so on and so forth? Fortunately, fortunately, you could put money into an IRA generally up until the point that you file the tax return, not including extensions. And therefore you can do a bit of the last minute tax planning. So you wanna be able to express that to the clients and obviously you would typically do a tax planning situation by using actual software, not usually an actual form like this. But like I say, looking at it in terms of a form can get us an idea of what's gonna happen so that we can communicate what's gonna happen to clients when we're speaking with them. So let's take a look at it. Box 1A, were you covered by a retirement plan? My lifestyle is my retirement plan. So notice if they were a single filer, for example, we might have W-2 income and then the question is, did you have access to say a 401k or a 403b or something like that, which would be shown on the W-2 and marked off in the software from the W-2 and that can complicate whether or not we would be able to access and get more benefit from putting money into an IRA. B, if married filing jointly, was your spouse covered by a retirement plan? So now when we're married, that's gonna add a level of complexity because even if just our spouse had access to the 401k plan, depending on the income thresholds, it could have an impact on how much we can put into the retirement plan or an IRA, I should say, we're focused on the IRA. Next, if you check no online 1a and no online 1b, if married filing jointly, skip lines two through six, enter the applicable amount below online 7a and line 7b if applicable and go to line eight. So we've got the 6,000 if under age 50, so that's gonna be the maximum contribution, typically 6,000 for an individual unless they are over age 50 where it can be boosted up to 7,000. So this is one of those types of things that's kind of applied to person per person in general. So if you're married, then you're still, could have some overlap in terms of the rules, meaning like if your spouse has access to a 401k plan, maybe it still has an impact on how much you can put in, but it's also kind of separate at the same time because obviously we have two individuals which we would think could max out their IRA contributions each.