Tax Question

  • Thread starter eNtRopY
  • Start date
  • #1
eNtRopY

Main Question or Discussion Point

[SOLVED] Tax Question

If I put money in a 401k program, can I count that towards an IRA deduction?

eNtRopY
 

Answers and Replies

  • #2
Ganshauk
IRA and 401k are two different species, even though they both look the same.

They should both be tax deferred (some IRA are non taxable :D) and thus ignored for federal income tax (although I have no Idea about state income tax, seeing as how we have none here in the totally badass state of Texas :).

Just keep throwing as much as you can into both of them, and you will be happy about it later on! Very happy indeed.
 

Related Threads on Tax Question

  • Last Post
Replies
1
Views
1K
  • Last Post
6
Replies
137
Views
15K
  • Last Post
Replies
14
Views
3K
  • Last Post
Replies
7
Views
2K
  • Last Post
2
Replies
37
Views
4K
  • Last Post
Replies
15
Views
2K
  • Last Post
Replies
15
Views
2K
  • Last Post
Replies
5
Views
14K
  • Last Post
Replies
9
Views
2K
  • Last Post
Replies
16
Views
10K
Top