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Financial Planning / Tax Strategies


Subject:  Re: IRA/Roth IRA conversion question: Date:  2/5/2013  8:01 AM
Author:  JimA759s Number:  117635 of 127547

Yes, you can certainly be in both. If your compensation is too high, then the Trad IRA contributions might not be deductible. However, contributions to the 401k reduce your AGI and so improve the odds of having a deductible IRA contribution.

I asked my question to see if there might be any 'Gotchas' in the future; in case of emergency financial needs..
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