Turbo Tax Question: Are you covered by a retirement plan at work? My question: What does "covered" mean? I am retired but still have a retirement plan through work. If I am retired (not "working"), do I answer "yes" or "no" to that question?
You may be seeing that in the IRA contribution section. You would answer 'no' to the question if you are not currently employed and covered by one of the plans listed below. This would be noted in box 13 of a W-2 form.
You're covered by another retirement plan at work if you have: