If you contributed to a 401K, can you also deduct for a contribution to an IRA?

hollyhhollenbeck · ‎June 3, 2019

MaryK1 · ‎June 3, 2019

Yes, but it may be limited. See https://www.irs.gov/retirement-plans/plan-participant-employee/2016-ira-contribution-and-deduction-l...

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MaryK1 · ‎June 3, 2019

Yes, but it may be limited. See https://www.irs.gov/retirement-plans/plan-participant-employee/2016-ira-contribution-and-deduction-l...

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macuser_22 · ‎June 3, 2019

But you do not deduct the 401(k) contribution in the IRA section, only actual contribution to the IRA.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

MaryK1 · ‎June 3, 2019

Correct-You cannot deduct a 401k contribution, only an additional IRA if you qualify.

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If you contributed to a 401K, can you also deduct for a contribution to an IRA?