Can I contribute to a Traditional or Roth IRA while participating in a

[Guest Carl C]

I've contributed last year to our new 401-K. Filing single (not married), gross income $50K, adjusted $31K. Can I contribute to my existing Traditional or Roth IRA (would like to put $2k in either before I file, for TY-2000)?

Carl

[Michael Devault]

You can contribute to either or both, just as long as the combined contribution does not exceed $2,000.

If you contribute to a traditional IRA, your contribution may be deductible, based on the information you've given. Suggest you look at IRS Publication 590 to make certain.

Remember, contributions for 2000 must be made by April 16, 2001.

Hope this helps.