JohnC wrote:
- quote -


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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I expect this to be a NO, but it's worth an ask...

I lost my job in 2008.

I made a contribution to my Roth IRA in 2008 and later recharacterized it
to a Traditional IRA contribution because my MAGI exceeded the Roth limit
for the year.

I was covered by a retirement plan while I was employed, but obviously not
covered after I lost my job (and therefore not covered on 12/31/2008).

See where I am going?

Since I was not covered the whole year (or on 12/31) does that exempt me
from the Traditional IRA contribution income limits rule for deductability?

Hey I can dream can't I?!

How long do you have to be covered by a pension plan during the year to be
subject to the income limitation? I suspect if you are covered at any
time during the year you are subject to the test, but it's worth an ask!


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========================================= MODERATOR'S COMMENT:
Sorry. If you were covered by a plan even one day during the year,
then you are considered to be covered by a plan, and AGI limit apply.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >