- quote -

Investments into a variable annuity are not deductible, afaik.

The earnings are tax-deferred, but that's a different question.

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- quote -

A variable annuity isn't tax deductible--rather, it is a tax
deferred investing option. That is, you do not get a
deduction for funding the variable annuity, unlike
contributions to a 401(k) or, if qualified, contributions to
a deductible IRA. Rather, taxation of the earnings is
delayed until you start taking funds out of the variable
annuity.

--
Ed Zollars, CPA
Phoenix, Arizona

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- quote -

What about a variable annuity?

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"Bill G" <heinrichgnome[at]yahoo.com> wrote:

- quote -

There are no tax-deductible retirement options for you.

--
David M. Woods, EA
Boston, MA 02109

Postings here are general information only and not to be
relied upon as advice.

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heinrichgnome[at]yahoo.com (Bill G) wrote:

- quote -

Since you both were covered by retirement plans during 2003
AND your joint AGI is over $70,000, NEITHER one of you can
make a deductible contribution to your traditional IRAs.
Sorry, you are SOL here.

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geinrichgnome[at]yahoo.com (Bill G) wrote:

- quote -

You are considered to be an active participant in a
retirement plan for 2003. Your wife is also an active
participant. As such, you would only be able to take a full
tax deduction for an IRA contribution if your modified AGI
was less than $60,000. Between $60,000 and $69,999, you
would get a partial deduction.

Alan
http://taxtopics.net

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I am trying to figure out if I have any short-term,
tax-deductible, retirement investment options. I was laid
off back in January from an employer that had a 401K plan.
I had invested about $100 in the plan in 2003. I will be
starting a new job shortly with a start-up that doesn't have
a 401K plan, but will be instituting one in December or
January. I would like to put away some of my salary between
now and the time the 401K plan starts, and wondered if I can
make tax-deductible contributions to an IRA for 2003, or
does the fact that I have made some 401K contributions
preclude me from doing that? I file jointly with my wife,
who has a 403b plan through her employer (if that matters).
Our gross household income will be around 100k.

Thanks in advance

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