ROTH IRA Contributions
Can a person make a ROTH IRA contribution if she also contributes to a ROTH at work? She is considered a government employee and is in a 457 or 403b
Thank you
Can a person make a ROTH IRA contribution if she also contributes to a ROTH at work? She is considered a government employee and is in a 457 or 403b
Thank you
Permalink Submitted by Dave Johnson on Fri, 2018-12-21 14:36
Can a person do a ROTH IRA in additoin to contiriubting to a ROTH 457 or 403b at work?
Permalink Submitted by Alan - IRA critic on Fri, 2018-12-21 15:21
Yes, a Roth IRA contribution can be made providing her modified AGI is not above the limit for her filing status. Because Roth contributions are also being made to the workplace plans, MAGI will be higher than it would otherwise be if pre tax contributions were made. If MAGI is too high for the Roth IRA contributions, a back door Roth contribution could be used if she does not have any traditional IRA, SEP or SIMPLE IRA balance.
Permalink Submitted by Dave Johnson on Fri, 2018-12-21 17:15
Thank You!