Home Country Pensions contributions validity for IRA

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Feb 16, 2007, 05:55 PM

pavitra

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Join Date: Feb 2007

Posts: 10

Home Country Pensions contributions validity for IRA

I am on L1 visa. I contribute $800 per year in a pension plan at my home country (India). Can that be claimed as IRA contribution for US tax purposes ?

Answers

Feb 16, 2007, 11:29 PM	#2

AtlantaTaxExpert Senior Tax Expert Join Date: Feb 2005 Location: Atlanta, Georgia Posts: 13,323	No, you cannot count that as an IRA contribution. Such contributions must be made with a recognized IRA custodian in the United States. If the contribution is pre-tax, then it should already be deducted from your stated India-based income. Comments on this post pavitra agrees: The answer is comprehensive & to the point

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