Max 401k 58k and Non deductible IRA?
Can I contribute $6000 to a non deductible IRA and file form 8606 even if I max out my 401k at work $19500 @ profit sharing for a total of 58000
Can I contribute $6000 to a non deductible IRA and file form 8606 even if I max out my 401k at work $19500 @ profit sharing for a total of 58000
Permalink Submitted by Alan - IRA critic on Mon, 2021-03-29 16:11
Yes, as long as you have enough earned income in Box 1 (less box 11) of your W-2 you can make the non deductible contribution. There is no max income limit for non deductible contributions.