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I'm a fool. I rolled my old 401k into my
new employers 401k plan. Due to the fact
that I'm a new employee, I will not be
able to make contributions until later
this year.

Does the fact that I rolled over the
old 401k mean I can't open a regular
IRA and deduct it from my taxes even
though I can't contribute to my new
401k?

Also, I was contributing to my old
employers 401k part of last year.

Thanks in advance.
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