Traditional IRA Contribution and AGI Question

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
Topic Author
tr123
Posts: 35
Joined: Mon Mar 26, 2012 10:59 pm

Traditional IRA Contribution and AGI Question

Post by tr123 »

I am changing jobs mid-year. Tax-wise it will be to my advantage in 2013 to contribute to a Traditional IRA instead of a Roth. The AGI deduction limit is < 59K if covered by a retirement plan at work, or no limit if not covered by a retirement plan at work. My old job--retirement plan. My new job -- no retirement plan. Can anyone tell me--which applies to me--Covered by retirement plan or not covered?
User avatar
tfb
Posts: 8397
Joined: Mon Feb 19, 2007 4:46 pm

Re: Traditional IRA Contribution and AGI Question

Post by tfb »

tr123 wrote:My old job--retirement plan. My new job -- no retirement plan. Can anyone tell me--which applies to me--Covered by retirement plan or not covered?
Covered.
Harry Sit has left the forums.
Topic Author
tr123
Posts: 35
Joined: Mon Mar 26, 2012 10:59 pm

Re: Traditional IRA Contribution and AGI Question

Post by tr123 »

Thanks.
dickenjb
Posts: 2941
Joined: Tue Jan 05, 2010 12:11 pm
Location: Philadelphia PA

Re: Traditional IRA Contribution and AGI Question

Post by dickenjb »

Yep covered. Definition is contributions made to a DC plan or benefit accrued in a DB plan.
Post Reply