SIMPLE IRA
If I contribute to the SIMPLE IRA at work am I subject to the rules that limit my ability to make a deductible IRA contribution?
If I contribute to the SIMPLE IRA at work am I subject to the rules that limit my ability to make a deductible IRA contribution?
Permalink Submitted by Alan - IRA critic on Sun, 2015-09-27 16:02
Yes, the SIMPLE contributions make you an “active participant” in a plan, so there are modified AGI limits over which you cannot take a deduction for a TIRA contribution.
Permalink Submitted by Robert Wright on Sun, 2015-09-27 17:57
Thanks Alan.