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Retirement tax questions
@Opus 17 wrote:
Your Roth IRA contributions will be in "excess" if you enroll in the 401(k) regardless of how much you actually contribute,
Having a 401(k) has nothing do do with limits on Roth IRA contributions, only the MAGI does.
Having a 401(k) can affect the deductible amount of a Traditional IRA, but not a Roth IRA.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎July 14, 2021
4:00 PM