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    loremo's Avatar
    loremo Posts: 1, Reputation: 1
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    #1

    Feb 19, 2009, 02:41 PM
    401k and ira
    If I have participitated in a 401Kkdoes that lower my limit for my iradeduction?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #2

    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.
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