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    Ira contribution

    Taxpayer works Jan thru April for company that has a retirement plan. Are they eligible to make an IRA contribution? Income on joint return is high. I know the spouse not in the plan can, but what about taxpayer that worked for a few months that had a plan?

    #2
    Originally posted by gman View Post
    Taxpayer works Jan thru April for company that has a retirement plan. Are they eligible to make an IRA contribution?
    Yes they can always make a contribution if enough earned income, but it won't be fully deductible. Even one day of coverage under an employer plan counts for the whole year.
    "You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard

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