2021 Maximum 401k+ROTH IRA Limits
Married Filing Joint – MAGI well within limits Can EE over 50 max out 401k $26,000 + make a ROTH IRA contribution of $7,000, or is the maximum aggregate limit of 401k+ROTH IRA over 50 = $26,000? In addition same facts can spouse make a ROTH IRA contribution of $7,000? Thank you
Permalink Submitted by Alan - IRA critic on Thu, 2022-03-17 17:48
The Roth IRA can be maxed out in addition to the 401k as long as MAGI permits. Spouse at 50+ can also make a 7000 Roth IRA contribution, as the MAGI limit is based on joint MAGI.
Permalink Submitted by Patrick Lanza on Thu, 2022-03-17 17:50
Thank you Alan