Yes - you are considered covered by an employer retirement plan. If you are covered, Box 13, "Retirement Plan" on your W-2 should be marked.
Even though you are covered by a retirement plan, you can still contribute to a traditional IRA and get a deduction, it just may be reduced. If you are--
Single, and your modified adjusted gross income is:
- $61,000 or less - You get the full
deduction
- more than $618,000 but less than 71,000 - partial deduction
- $71,000 or more - no deduction
Married filing joint return,
and your modified adjusted gross income is:
- $98,000 or less - You get the full
deduction
- more than $98,000 but less than
$118,000 - partial deduction
- $118,000 or more - no deduction
Married filing separately*,
and your modified adjusted gross income is:
- less than $10,000 - partial deduction
- $10,000 or more - no deduction
*Married individuals filing separately who live apart at all times during the year are treated as single.
[NOTE: There is no impact on
Roth IRA contributions if you are covered
by an employer retirement plan. These contributions, however, are not
deductible on your return.]
For more details on IRAs, please see the following IRS Publications:
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