Traditional IRA Contribution and AGI Question
Traditional IRA Contribution and AGI Question
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?
Re: Traditional IRA Contribution and AGI Question
Covered.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?
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Re: Traditional IRA Contribution and AGI Question
Yep covered. Definition is contributions made to a DC plan or benefit accrued in a DB plan.