This is a complicated tax question, but very relevant to me.
I was under an employee sponsored 401k plan for 7 months of the year. I then switched jobs and my new company's 401k does not become available to me until 2015.
I have contributed to a Traditional IRA to the full 5,500. Will I lose the tax deduction on the traditional because I was under a 401k plan for 7 months?
I know there is an income threshold and this year my wife and I should be around 80k. If I lose this I want to convert to a ROTH ASAP.
Thank you for your insight.
