I worked for the first 3 months of 2017, then retired. While employed, I benefited from the employer's 401K plan. Can I also deposit tax-deferred dollars in my IRA for 2017?
Thanks.
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Yes, you can contribute to a 401K and an IRA. However, traditional IRA contributions must be from earned income.
Your contribution will be based on your income from January-March of 2017.
Please see this IRS link for details: Contribution Limits.
Yes, you can contribute to a 401K and an IRA. However, traditional IRA contributions must be from earned income.
Your contribution will be based on your income from January-March of 2017.
Please see this IRS link for details: Contribution Limits.
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