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posted Jun 5, 2019 11:13:24 PM

"Limitations of the IRA deduction"

Limitations of the IRA deduction :
 - "You can deduct all of your contribution if you (and your spouse, if filing a joint return) are not covered by a retirement plan at work"

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\My company does not provide a pension plan but DOES provide a 401K plan, to which I contribute and they match.  For the purposes of the IRA deduction, is a 401K considered a retirement plan? 



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1 Best answer
Level 15
Jun 5, 2019 11:13:25 PM

Yes, for the purposes of the IRA deduction,  a 401K is considered a retirement plan.  

1 Replies
Level 15
Jun 5, 2019 11:13:25 PM

Yes, for the purposes of the IRA deduction,  a 401K is considered a retirement plan.