Roth 401k & Roth IRA Contributions
I will be employed for 1 month of 2021, retiring January 31. I am participating in my employer 401k Roth option. For that 1 month my Roth 401k contributions will be almost my entire pay net of tax withholdings and deductions. Am I also eligible to contribute in 2021 to my Roth IRA up to the limit of my 1 month of W2 gross earned income? I will have no other 2021 earned income. It seems like there would be a rule prohibiting what would be a double contribution, but I cannot find it. Thanks!
Permalink Submitted by David Mertz on Wed, 2020-12-30 19:53