Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
stephenawise
New Member

Can my wife and I make a tax deductible contribution to a traditional IRA if we have income of $330,000 and I was covered by employer retirement plan for 3 days in 2016?

 
1 Best answer

Accepted Solutions
SweetieJean
Level 15

Can my wife and I make a tax deductible contribution to a traditional IRA if we have income of $330,000 and I was covered by employer retirement plan for 3 days in 2016?

Sorry, no. Due to your income, even being covered by an employer for one day disqualifies you.

https://www.irs.gov/retirement-plans/plan-participant-employee/2016-ira-contribution-and-deduction-l...

View solution in original post

1 Reply
SweetieJean
Level 15

Can my wife and I make a tax deductible contribution to a traditional IRA if we have income of $330,000 and I was covered by employer retirement plan for 3 days in 2016?

Sorry, no. Due to your income, even being covered by an employer for one day disqualifies you.

https://www.irs.gov/retirement-plans/plan-participant-employee/2016-ira-contribution-and-deduction-l...

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~