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Yes. Whether or not you can deduct the IRA contribution depends on a variety of factors. Whether or not you can contribute to a Roth IRA depends on your income (or that of you and your spouse combined, if you are married). More information: http://beginnersinvest.about.com/cs/iras/a/iracontribution.htm
What else can I help you with?
Can you contribute to both a 401k and 403b in the same year?
Yes, this is possible if you earn enough and the plans allow it. Your total contribution amount, 401k plus 403b can not exceed the $15,500 ($20,500 if over age 50) for 2008.
If you do not contribute to your 401-k can you contribute to an IRA?
You can contribute to both a 401K and an IRA at the same time (same year).
Is it possible for me to contribute to both a Simple IRA and a Traditional IRA in the same year?
No, you cannot contribute to both a Simple IRA and a Traditional IRA in the same year. You must choose one type of IRA to contribute to for that tax year.
Is it possible to both contribute to and withdraw funds from a 529 plan in the same year?
Yes, it is possible to both contribute to and withdraw funds from a 529 plan in the same year, but there are rules and limitations to consider.
Can I contribute to both a Simple IRA and a Traditional IRA?
No, you cannot contribute to both a Simple IRA and a Traditional IRA in the same year.
Can you contribute to both a 401k and 403b in the same year?
Yes, this is possible if you earn enough and the plans allow it. Your total contribution amount, 401k plus 403b can not exceed the $15,500 ($20,500 if over age 50) for 2008.
If you do not contribute to your 401-k can you contribute to an IRA?
You can contribute to both a 401K and an IRA at the same time (same year).
Is it possible for me to contribute to both a Simple IRA and a Traditional IRA in the same year?
No, you cannot contribute to both a Simple IRA and a Traditional IRA in the same year. You must choose one type of IRA to contribute to for that tax year.
Is it possible to both contribute to and withdraw funds from a 529 plan in the same year?
Yes, it is possible to both contribute to and withdraw funds from a 529 plan in the same year, but there are rules and limitations to consider.
Can I contribute to both a Simple IRA and a Traditional IRA?
No, you cannot contribute to both a Simple IRA and a Traditional IRA in the same year.
Could you contribute to both a roth and IRA same year?
You can contribute to both traditional and Roth IRAs in the same year. However, you total contribution to all IRA plans must not exceed the maximum contribution limit of $5,000 ($6,500 if over 50).
Can I contribute to an IRA and a SEP in the same year?
Yes. As long as the multiple contributions do no exceed the limit for the year.
Can you have both a regular IRA and a roth IRA?
Provided you meet the compensation requirements and the income limitations for each type of IRA, you may contribute to both a Roth and a regular IRA. However, the combined amount may never exceed $5,000 (or $6,000 if you are 50 or older). Therefore, should a 45-year old be eligible and choose to contribute $3,500 to his Roth IRA, the most he could contribute to a regular IRA for the same tax year is $1,500.
An actor that has won lead and supporting Oscars in the same year?
No actor won both awards in the same year.
Which one is the good the 4 year or 2 year college?
the both of them are the same
Can you contribute to a 401k after the year end?
No, you cannot contribute to a 401k after the year end.
Will both parts of Harry Potter and the Deathly Hallows be released in the same year?
no both films will be relesed about 1 year after another
