dmertz
Level 15

Retirement tax questions

Unless you were age 50 or over in 2022, the contribution limit for 2022 is $6,000, not $6,500.  If you contribute $6,500 for 2022 and were under age 50, you will have an excess contribution that is subject to penalty.

 

Those who are age 50 of over in the particular year can contribute an additional $1,000 for each of these years.