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Traditional IRA Contribution
Me (and spouse) are both 60 without a retirement plan at work, so we qualify for max $7000 each Traditional IRA contribution. However, part of the 2020 year (Jan-Aug) I did work for an employer with a 401k retirement plan and I participated in that plan. Do I qualify for benefits of this max contribution level given I presently do not work for an employer with with a retirement plan? TurboTax only asks me about present employer and when I answer that question it indicates I qualify but want to confirm the earlier year employment doesn't change that eligibility. Thank you!
‎February 25, 2021
4:06 PM