Deduction on my traditonal ira part 3?

Question

this question is related to my other 2 threads:

http://answers.yahoo.com/question/index;_ylt=Ajp885YvsEJqlMxn91Wsg9vsy6IX?qid=20070524203230AApJMeR

http://answers.yahoo.com/question/index;_ylt=AnycTsl4NUdeMhHbnqZWsP_sy6IX?qid=20070524212145AAVEaq4

from those 2 thread i was told i can file an amended 1040x for my federal. but what about ny state which i use it-150 form? can i also file an amended for my state? i live in nyc.

also someone told me i wont qualify if my agi is over 52k which is not the case..my agi for 2006 was about 43k. and someone in the first thread said if i contribulte to my employer 401k....i cant deduct any from my contribution to my traditional ira...is that true? im single in nyc and contributed about $8000 to my 401k.

so my question is:
1. can i amend my ira contribution for new york state for next year 2007?
2. how much can i deduct when i contributed $1000 in my traditional ira for 2006 and agi is $43k and contributed about $8k in 401k?

Answer 1

Download IRS Publication 17 at irs.gov and read pages 114-115 - they give info on when you can and can't deduct. If you're covered by a retirement plan at work but make under $50K you can take the full IRA deduction - if you make $50-60K, you get a partial deduction, over that you don't get a deduction.

I don't know if you can take an IRA deduction in NY, so don't know about amending the state for 2006.