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Level 1
posted Nov 28, 2020 9:40:27 AM

Contributions to Roth and Trad IRA's if I used to be in a retirement plan at start of year but was laid off

Turbotax asks me if I am in a retirement plan at work when I am completing the Roth / Trad IRA contributions section. I was for a few months at the start of the year, but then was laid off.  So I am not now in a retirement plan at work.  So so I answer Yes or No to the TT question?

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1 Replies
Level 15
Nov 28, 2020 9:45:10 AM

Answer Yes since you did have a retirement plan at work during the tax year.