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Author: Charlie48K Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75383  
Subject: Re: Can I contribute to a Traditional IRA Date: 3/11/2002 12:43 PM
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Are my wife and I eligible to contribute to a Traditonal IRA? I realize that it is not deductable, but I still would like to contribute.

My accountant is unsure because of several factors:

My wife an I have an AGI of over $160k

Prior to leaving her employer in March, 2001, my wife contributed to a 401k

She than worked as an independent contractor for her ex-employer and established a SIMPLE IRA

She then started her own corp, and we both contributed to SIMPLE IRA's (for a total of three SIMPLE IRA's)

Through my employer, I participate in a pension plan, and also contributed to a 401k and 457

Yes, I believe you can. A traditional IRA is available to almost anyone. The income limits along with the 401k contributions makes it non-deductible. The SIMPLE is also considered an employer sponsored retirement plan and doesn't take away the IRA. The 457 plan doesn't affect it at all.
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