403B Question
Hello,
If a client did not contribute to their 403b plan in 2019 can they fully fund their IRA for 2019 and 2020? Thank you.
Hello,
If a client did not contribute to their 403b plan in 2019 can they fully fund their IRA for 2019 and 2020? Thank you.
Permalink Submitted by Alan - IRA critic on Thu, 2020-01-30 18:20
If no contributions were made to the plan, they are not an active participant for that plan, but if they have a defined benefit pension plan, they will still be subject to the income limits to deduct an IRA contribution. Check the w-2 retirement plan box on the 2019 W-2 to see if it has been checked.