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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: sweez who wrote (2770)2/4/2000 12:28:00 PM
From: Dan Duchardt  Read Replies (2) | Respond to of 5810
 
sweez,

One of the experts here (Kaye Thomas) has a nice web site you might want to check out

fairmark.com

Quoting from the page

Your Roth IRA contribution is not reduced or otherwise affected by any contribution you make to a 401k plan or 403b plan. (Technically these amounts are contributed by your employer, not by you.)

It's the same for a traditional IRA.

I'm not 100% positive, but I don't think the income limitations for the Roth apply to a traditional IRA. Everyone can do the traditional.

Dan

ED: See the reply
Message 12778282

Thanks OX



To: sweez who wrote (2770)2/5/2000 7:21:00 PM
From: jbIII  Read Replies (1) | Respond to of 5810
 
Sweez,

If I have a active 401k Plan at work
Can I still open up an IRA in another institution and contribute to it.

You may, but it is not tax deductible, as it would be if you didn't have the 401K.


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