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Retirement tax questions

It does not matter if you contribute to the 401(k) or not if you employer contributed to it then you would still be a participant.    Box 13 on your W-2 will be checked if you have a 401(k).    That does not prevent you from contributing to a Traditional IRA, it only affects your ability to deduct it if your income exceeds the limits given in this link to the IRS:  <a rel="nofollow" target="_blank" href="https://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits">https://www.irs.gov/Retirement-Plans/IRA-...>

You must also have at least as much taxable compensation (money that you worked for) as your IRA contribution.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**