Skip to main content
Message Font: Serif | Sans-Serif
 
No. of Recommendations: 1
However, if you are making Traditional 401k contributions, I believe you can only contribute to a Roth IRA, and not seek additional tax deductions through a Traditional pre-tax IRA.

Sorry, this is not correct. There are deductibility limits based on MAGI and whether you and/or your spouse (if applicable) are covered by any retirement plan (not just a 401(k)). It is possible to be covered by a retirement plan and still have a deductible IRA contribution.

AJ
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.