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Can I contribute to both a 401(k) and an IRA?

SOLVEDby TurboTax297Updated December 29, 2021

Yes. You can contribute to an IRA even if you or your jointly-filing spouse are covered by an employer-sponsored retirement plan such as a 401(k).

How much of the IRA contribution you can deduct, if any, is based on your filing status and modified adjusted gross income. We’ll figure that out for you.

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