Roth 401k and married filing separate
Good morning,
I am looking for clarity on if a person can contribute to their Roth401k through work and still file their taxes married filing separate? I keep seeing references that income limits do not applying to eligibility for Roth401k contributions. I’m just looking for the ok even when filing taxes married filing separate that they can still contribute to their Roth 401k.
Thanks in advance,
Permalink Submitted by Alan - IRA critic on Mon, 2016-11-21 17:26
There are no income limits for making contributions to qualified plans and that includes pre tax or Roth 401k accounts. Therefore, if your MAGI is too high to contribute to a Roth IRA you can always contribute to a Roth 401k. However, you cannot recharacterize or have Roth 401k contributions returned to you. Contributions are permanent.
Permalink Submitted by Michael Clancy on Mon, 2016-11-21 17:28
Thank you Alan,So the tax filing status does not impact Roth 401k eligibility?
Permalink Submitted by Alan - IRA critic on Mon, 2016-11-21 19:07
No, it does not.