I am on the retirement investments section in Turbo Tax and its says it is not too late to open up a tax-deductible IRA to get a federal tax deduction for 2018. I am 50 years old. I have a 401k with my employer so I don't know if this prevents me from opening a tax-deductible IRA to get a federal tax deduction for 2018.
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It depends on your income. You can contribute to a traditional IRA and take a deduction while you are covered by a 401k at work. However, income limits do apply. See image below for those restrictions.
It depends on your income. You can contribute to a traditional IRA and take a deduction while you are covered by a 401k at work. However, income limits do apply. See image below for those restrictions.
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