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Old 02-21-2014, 11:28 AM
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401K and IRA contribution

I switched jobs in February of 2013. I was contributing to a 401K plan with my original employer, and my contribution before I quite totaled $1200 for 2013. My new employer has a one year waiting period for 401K contributions, so I was not able to contribute to a 401K for the remainder of 2013. I contributed $5,500 to my rothIRA in January of 2013. I re-characterized that contribution to an IRA when I realized that a 401K would not be an option for the remainder of 2013. I did this in the hopes that I would be able to deduct some, or all of that amount. Can I deduct any of the IRA contribution for my 2013 taxes?



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