ThomasM125
Expert Alumni

Retirement tax questions

I agree that you should be able to take elective deferrals up to $26,000. There is an income limit to contributing to a ROTH IRA, however. You can't contribute if your income is over $144,000 if a single filer or $214,000 filing married-joint. The deductibility of ROTH IRA's starts to phase out when your income is over $129,000 single or $204,000 married filing joint. So a portion of your ROTH IRA contributions could be over the limit.

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