https://www.irahelp.com/slottreport/act ... ticipation
This article says ”Note: Section 457 deferred compensation plans do not impact IRA deductibility.”.
I fail to understand the reasoning. Isn’t 457 also a type of retirement plan? And if it is a retirement plan, how can it not affect IRA deductibility? Are they saying that a taxpayer who participates in an employer 457 plan can make deductible IRA contribution no matter how high his income is?
Does anyone agree with what they say?