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Retirement tax questions
Yes. You may maintain both a 401K Traditional and 401k Roth Ira as long as your total contribution doesn't exceed the Internal Revenue Service (IRS) limits for any given year, and you meet certain other eligibility requirements. In other words, the combined Traditional and Roth 401K may not exceed $26,000 for over 50 years old (catch up is $6,500). You may check if you have other 401k contributions that may exceed your total contribution in 2020.
‎April 12, 2021
12:37 PM