Can I contribute the same amount to an IRA as my 401(k)?
January 22, 2003
Subject: 401k and IRA deductions
Date: Mon, 09 Dec 2002
I was saving through my employer's 401 k, but lost my job in May so contributions ended in May. I have contributed about $4,000 this year.
I am not eligible for my new employer's plan until January. Can I invest in an IRA for the difference ($7,000) for 2002 and deduct them from taxes?
Date: Fri, 03 Jan 2003
The answer is "No."
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