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URL:  http://boards.fool.com/dh-and-i-expect-to-qualify-for-traditional-16536821.aspx

Subject:  Re: IRA and Simple IRA contributions Date:  1/23/2002  11:51 PM
Author:  pmarti Number:  57538 of 120780

DH and I expect to qualify for traditional tax-free IRAs this year and have already deposited $6500 (I'll be 50 this year) in our IRAs. Can we also contribute to our corporate Simple IRAs?

Yes. The SIMPLE is a retirement plan in addition to your IRA. Do remember that since you're covered by the SIMPLE, deductibility of your traditional IRA contributions is dependent on your AGI. See page 8 of Publication 590.

Phil Marti
VITA Volunteer
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