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Get your taxes done using TurboTax
Covered by a retirement plan means you are eligible to make contributions at work. If you are retired and not working, the answer would be NO. To contribute to an IRA, you (or your spouse) must have earned income. If you are not covered by a retirement plan at work (because you didn't work in 2020), is there earned income on your return? If not, you can't make IRA contributions anyway.
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March 15, 2021
3:47 PM