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Retirement tax questions
@michaelbutler406 wrote:
This info is for Roth IRA's. I'm wanting to know if tax status matters for Roth 401k. I've read elsewhere it does not.
Sorry about that. For a Roth 401(k) -
You can contribute a maximum of $19,500 in 2020 and 2021 to a Roth 401(k)—the same amount as a traditional 401(k). If you’re aged 50 or older, you can contribute an extra $6,500 as a catch-up contribution. These limits are per individual; you don’t have to consider whether you’re married or single.
December 7, 2020
4:50 AM