turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

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

vany1029
New Member

If I contribute to a 457(b) plan, am I able to deduct a contribution to a traditional IRA?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
ChristinaS
Expert Alumni

If I contribute to a 457(b) plan, am I able to deduct a contribution to a traditional IRA?

Maybe.

Whether an IRS contribution is deductible or not also depends on your income, your filing status, and whether your spouse (if married) is covered by a plan at work.

Since you yourself are covered by a plan, use the chart below to determine any deduction for a contribution made by you:

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

If you are married and your spouse is not covered by a plan, the income limit is higher if the contribution is made by the spouse instead:

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

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question