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Traditional IRA Tax Deduction
At the start of 2022 I contributed $6000 to my Traditional IRA because my employer did not offer a retirement solution and I wanted to take advantage of the tax deduction. July rolls around and my employer started offering a 401k. I now earn too much to get a tax deduction on the traditional IRA. If I knew they were going to offer the retirement plan, I would have contributed to a ROTH IRA. I know in the grand scheme of things its not that much money, but is there any way to not get taxed twice on the $6k, or get the original anticipated tax deduction since the money was contributed before the 401k was offered?
Thanks in advance.
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‎November 3, 2022
3:58 PM