401k contributions and IRA contributions
Can an individual max out contribution levels in a 401k and also contribute to an IRA in the same year?
Thanks
Can an individual max out contribution levels in a 401k and also contribute to an IRA in the same year?
Thanks
Permalink Submitted by Alan - IRA critic on Thu, 2018-03-29 01:12
Yes, the individual could contribute to a Roth IRA if their modified AGI is not too high, could make a deductible TIRA contribution if modified AGI is not too high (lower limit that for Roth contribution), and can always make a non deductible TIRA contribution if under 70.5. However, a non deductible TIRA contribution is the least desirable of the options.
Permalink Submitted by Zachariah Hammel on Thu, 2018-03-29 23:28
Im not familiar with TIRA…
Permalink Submitted by Alan - IRA critic on Thu, 2018-03-29 23:44
Traditional IRA.