IRA deduction confirmation

[HydroJim]

I've done reading on the topic but, want to make sure I have it straight.

A new job offer is offering $103,500 salary. (working on negotiating this higher, but assume this for now. Also will have a sign-on bonus around $5k included the first year)
Maxing out my 401k is $19,000 deduction
Standard deduction is $12,400 for single, no dependents.
That leaves me with a AGI of $77,100 in the first year and $72,100 in remaining years (likely slightly higher due annual raises)

Unless I'm missing something, this bumps me out of the traditional IRA deduction or is at least in the phase out zone ($65,000 to $75,000 for 2020) which means I should contribute to a Roth IRA for the immediate future.

Do I have that correct?

[MDM]

Probably.

Will you pay pre-tax medical insurance premiums, personal HSA contributions, or have any other adjustments to income?  Those may also lower your AGI and thus the MAGI of interest here.  The standard deduction of $12.4K doesn't affect your MAGI for traditional IRA purposes.

For 2020, the 401k max is $19.5K. 

The 2020 version of taxes in the case study spreadsheet is available if you want to do some early projections.

[HydroJim]

Ah, thank you. That clears it up for me.