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noboat
Mar 14, 2007, 06:59 AM
I do not participate in my company 401k plan. Am I eligible to make a contribution to an ira & claim it on my 06 tax teturn? Thanks. noboat

AtlantaTaxExpert
Mar 16, 2007, 12:22 PM
Yes, if you do not participate in the 401K plan or any other plan, you can contribute to a traditional and deduct the contrubution from your income taxes.