Bwth
Apr 1 1999, 03:16 PM
When calculating the Maximum yearly contribution limit, Adding Contributions to 401k's and a Roth IRA, the total is over 10,000. Do Roth IRA's count towards this limit or is it only for deferred income like a traditional IRA.
Del Rae
Apr 1 1999, 09:23 PM
IRAs (traditional or Roth) aren't considered employee elective deferrals for the $10,000 limitation for 401Ks. They have their own limitations... so assuming you qualify for the Roth based on it's limitations, you could do both.
Lyric
Apr 3 1999, 05:38 PM
I believe it's only traditional deductible IRAs that are a problem if you have a 401(k). Because they're both tax-deferred. A Roth IRA is a completely different animal, and non-deductible, so you can contribute the $2,000 maximum as long as you meet the eligibility criteria (adjusted income, filing status, etc. -- you're not eligible if you are married filing separately).
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