loremo
Feb 19, 2009, 02:41 PM
If I have participitated in a 401Kkdoes that lower my limit for my iradeduction?
ebaines
Feb 20, 2009, 02:24 PM
Depending on your AGI (adjusted gross income) you may still be able to deduct contributions to a traditional IRA. But if you're AGI is too high, and you have a retirement plan at work (a 401(k) plan) you may be precluded from deducting your IRA contribution.