Combined Contribution Limits To Roth Ira And Roth 401k

USA Discussion in 'Technical Queries' started by bobbyalp, Sep 13, 2017.

  1. bobbyalp

    bobbyalp

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    I am 66 years old and plan to return to work in near future. Since I already have pension income, the complete purpose for return to work is to contribute to a Roth 401k and a Roth IRA.

    Annual salary would be approximately $25,000. Can I contribute $24,000 to the Roth 401K and then make additional $6,500 contribution to a Roth IRA during the same year?

    In other words, can the combined contributions to Roth 401K and Roth IRA exceed the total work-earnings for that same year?


    Thanks for your help.
     
    bobbyalp, Sep 13, 2017
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  2. bobbyalp

    Drmdcpa VIP Member

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    No
     
    Drmdcpa, Sep 13, 2017
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  3. bobbyalp

    bobbyalp

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    Drmdcpa, Thanks for your response. Guess I'll be dividing the year between the IRA contribution and the 401k contribution.
     
    bobbyalp, Sep 13, 2017
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