IRA Deductibility

If a person retires at any time of the year and was a participant in an employer 403B plan are they considered being part of an employer plan for the full year. My client’s are teachers who both retired at the end of 2014 and I am trying to determine the income limits for a deductible IRA. I believe if you are a participant for one day, you are considered a participant for the whole year.



You are correct. They are both considered retirement plan participants for 2014.



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