I contribute about 12% of my income to 401(k) which comes to about 15000 a year or so. My employer doesn't match anything due to nature of the contract.

I have been investing in 401(k) since 2012. I've since switched jobs a couple of times and rolled previous 401(k)s over into a Vanguard IRA.

I invest in stocks in this IRA. Since there is a lot of buying opportunity presenting itself now and I envision in the near future as well, can I put more money from my personal bank account into this IRA? Would that be tax deductible or how would that work? Is it even possible to contribute to an IRA when I have a 401(k)?

  • Note that you don't need to put more money in to change your investments. You can sell stocks/funds and buy new ones within the IRA without any tax liability.
    – BrenBarn
    Commented Aug 21, 2015 at 19:07
  • I know I can but I don't want to give up the portfolio I've built up until now.
    – Gabbar
    Commented Aug 21, 2015 at 19:14

1 Answer 1


Yes. Here is the chart:

enter image description here

This will tell you if the IRA is deductible. Above these numbers, and you might be able to deposit to Roth, or to an IRA but not take a deduction.

  • It might be worth mentioning a backdoor Roth contribution as something to consider when the IRA is not deductible, depending on the OP 's circumstances.
    – Eric
    Commented Aug 22, 2015 at 0:04
  • 2
    I guess I didn't since he mentions an existing IRA, and that means describing the whole pro-rating the tax on the conversion. There has to be a Q&A on SE we can refer to, to offer him those details. Commented Aug 22, 2015 at 0:33

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