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Posted: 2/14/2006 3:49:55 PM EDT
I have a question about IRAs. I did not contribute to a retirement plan (401k) at work, so shouldn't my IRA in 05 be deductable?
Link Posted: 2/14/2006 3:52:03 PM EDT
Yes.
Link Posted: 2/14/2006 3:53:24 PM EDT
Conventional or Roth? If conventional it should be deductible..I didn't know contributing to a 401k made a difference
Link Posted: 2/14/2006 3:57:45 PM EDT
There is an income limitation for the deduction. Use computer software or read the instructions to the manual forms. They are all downloadable from www.irs.gov
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