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.
02407
1 Best answer
SteamTrain
Level 15
May 31, 2019 11:24:59 PM
correct,
if you made contributions to anyone's 401k for even one day during 2016, then your deductible IRA contributions may be capped.
2 Replies
SteamTrain
Level 15
May 31, 2019 11:24:59 PM
correct,
if you made contributions to anyone's 401k for even one day during 2016, then your deductible IRA contributions may be capped.