some clarifications ..
I had taxable income in 2024 but I retired on March 31st, 2024.
from what I've read if I don't have an employer retirement plan (and that stopped on March 31st) and I'm over FRA, then the taxable income limit on taking an IRA is not applicable. Is this correct? that is, Does it matter that I had a retirement plan for the first quarter of the year?
Hopefully, this clarifies my question on whether I can open an IRA and deduct those $s from my gross income.
