Spousal Roth when there is a 401K contribution
Are there limits to contributing to a spousal Roth IRA when the earning spouse contributes to an employer sponsored 401K Plan?
Are there limits to contributing to a spousal Roth IRA when the earning spouse contributes to an employer sponsored 401K Plan?
Permalink Submitted by Alan - IRA critic on Mon, 2021-10-25 16:41
No additional limits, just the usual Roth contribution limits. Those being that the earning spouse must have enough earned income to cover both of their IRA Contributions, and the joint modified AGI cannot be higher than 198k or Roth contributions for both spouses start to be phased out. Note that any pre tax 401k contributions made by the earning spouse lowers MAGI and might help to prevent exceeding the 198k Roth contribution limit.
Permalink Submitted by Steven Fenyves on Mon, 2021-10-25 18:23
Thanks Alan!