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Author: pblakeney Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 72263  
Subject: IRA Deduction w/ Profit Sharing? Date: 1/26/2005 8:44 PM
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My company offers profit sharing to employees which vest 20% every two years. Although we may have the option to, the employees don't contribute any monies, only the employer does. My boss could not tell me whether the profit sharing plan is considered "an employer's tax-qualified retirement plan" which would prevent me from deducting my contribution to a traditional IRA.

Does anyone know whether profit sharing that employees do not contribute to but will ultimately benefit from would be a "tax-qualified retirement plan"?

Thanks!
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Author: Watty56 Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 44209 of 72263
Subject: Re: IRA Deduction w/ Profit Sharing? Date: 1/26/2005 9:51 PM
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There is a box that will be checked on your W2.

Greg

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Author: pblakeney Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 44220 of 72263
Subject: Re: IRA Deduction w/ Profit Sharing? Date: 1/27/2005 11:52 AM
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You mean the box indicates whether I participate in a qualified employer retirement plan?

Thanks for your help

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Author: agg97 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 44244 of 72263
Subject: Re: IRA Deduction w/ Profit Sharing? Date: 1/27/2005 5:36 PM
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pblakeney,

is your name a reference to the Scarlet Pimpernel?

-Agg97

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Author: pblakeney Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 44272 of 72263
Subject: Re: IRA Deduction w/ Profit Sharing? Date: 1/28/2005 10:59 AM
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Yeah =0) Liked the book?

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