damuyada
New Member

Can i have my own IRA account and contribute to Roth IRA even with active 401K contirbutions with my current employer

Hello there,

 

I currently have 401k account that is offered by my employer. I plan to max out my contributions of 22k this year, on top of that can I hold an individual IRA account with a different brokerage (ex: robinhood has IRA account offerings) and contribute 6500 towards my Roth IRA?

 

Since I am doing it myself I will be using my after taxed dollars towards the Roth IRA with Robinhood. I want to make sure if I will have any tax implication for doing this contributions?