Can IRA contribution be deductible even with SEP-IRA or 401K?


From: juanb@vnet.ibm.com
Subject: Can IRA contribution be deductible even with SEP-IRA or 401K?
Date: Thu, 9 Mar 00 09:33:35 EST

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I was under the assumption that if you were covered at work by a
deferred compensation plan like a 401K or SEP-IRA, that you couldn't
make a deductible contribution to an IRA.  However, when doing my
parents taxes with Kiplinger's Taxcut, it gave my mother the
deduction even though she has a SEP-IRA plan at work.  Is there some
earnings check done as well to determine if it can be deductible?
Been trying to access the IRS site, but having no luck at work getting
out of the firewall :(

Thanks,
Juan

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