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| Subject: Re: Better to hold ETF in IRA or outside of it | Date: 1/29/2013 6:25 PM | |
| Author: ptheland | Number: 71314 of 72499 | |
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Since you have a 401k plan available to you whether you participate or not you are not allowed to claim a tax deduction for contributions to a traditional IRA. Not exactly. When you are covered by a pension plan (including a 401k) at work, you can still deduct an IRA contribution if your income is below certain thresholds (around $60k for singles and $100k for joint returns - but that's just off the top of my head, so be sure to look up the exact numbers if it's important). --Peter |
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