Guest gonzalezk Posted March 25, 2001 Share Posted March 25, 2001 If my employer offers a SARSEP Plan but I have never signed up for the plan, can I still take the deduction from a Traditional IRA ? I asked my employer about this and he assures me that I can take the IRA deduction. According to Publication 590, I cannot take the deduction if my employer OFFERS a pension or annuity plan. I don't want to get penalized by the IRS if my boss is incorrect. Is a SARSEP plan considered a pension or annuity ? Link to comment Share on other sites More sharing options...
Guest AFRICA6796 Posted April 5, 2001 Share Posted April 5, 2001 It seems you employer is right. Check this site http://www.irs.ustreas.gov/forms_pubs/pubs...bs/p5900108.htm A SARSEP is NOT a pension or annuity plans Link to comment Share on other sites More sharing options...
Guest gonzalezk Posted April 6, 2001 Share Posted April 6, 2001 Actually, I found out already but your help is appreciated. I read that publication but it didn't mention anything about SARSEP specifically. But now that you have informed me that it is not a pension or annuity plan, I can definitely take the IRA deduction. Thanks again. Link to comment Share on other sites More sharing options...
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