Solved: I switched jobs in 2016 and was covered by an employer sponsored 401k plan before switching, the rest of the year I was not. I am capped in my IRA deduction because of my MAGI.
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I switched jobs in 2016 and was covered by an employer sponsored 401k plan before switching, the rest of the year I was not. I am capped in my IRA deduction because of my MAGI.

 
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Level 15

I switched jobs in 2016 and was covered by an employer sponsored 401k plan before switching, the rest of the year I was not. I am capped in my IRA deduction because of my MAGI.

correct,

 if you made contributions to anyone's 401k for even one day during 2016, then your deductible IRA contributions may be capped.

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2 Replies
Level 15

I switched jobs in 2016 and was covered by an employer sponsored 401k plan before switching, the rest of the year I was not. I am capped in my IRA deduction because of my MAGI.

correct,

 if you made contributions to anyone's 401k for even one day during 2016, then your deductible IRA contributions may be capped.

View solution in original post

New Member

I switched jobs in 2016 and was covered by an employer sponsored 401k plan before switching, the rest of the year I was not. I am capped in my IRA deduction because of my MAGI.

bummer..
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