Can an individual contribute to an IRA and another retirement plan at the same time?

Can an individual contribute to an IRA and another retirement plan at the same time?
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1 Answer

Answer :

Yes, individuals can contribute to a traditional IRA whether or not they are covered by another retirement plan Small catch... they may not be able to deduct all of their contributions if they or their spouses are covered by an employer-sponsored retirement plan. Note that contributions to a Roth IRA are not deductible and income limits apply.
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