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What is the difference between the $6,000 IRA contribution limit and the 19,500 IRA limit? What is the total amount you can contribute to both a Traditional and Roth IRA?
I am filing my taxes as a single person contributing to both a traditional and roth IRA. I am confused by two supposed limits and what they apply to. Some articles are saying there is a $6000 limit on all contributions to either IRA while others are saying there is a 19,500 limit. I contribute about 5000 to traditional and 5000 to roth, am I over the limit or what?
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March 20, 2022
2:06 PM