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Can I have a Traditional/Roth IRA in addition to my other retirement plans such as a 401(k), 403(b), SEP, SIMPLE or Individual(k) plan?

April 26, 2017addition retirement plans roth ira SEP simple traditional

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Can I have a Traditional/Roth IRA in addition to my other retirement plans such as a 401(k), 403(b), SEP, SIMPLE or Individual(k) plan?

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The amount of IRA contribution for which a deduction is allowable will depend upon whether the IRA owner is an active participant in a qualified plan, a 403(a) or (b) annuity, a SEP, a SIMPLE IRA or a governmental plan and, if so, the individual’s adjusted gross income.