- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
"regardless of income"--No.
You don't get a different limit or exception if your employer failed their non-discrimination testing so you weren't able to max out the 401k. Your ability to make a deductible IRA contribution is based on the usual eligibility rules (income, filing status, retirement plan at work). The maximum deductible contribution is $6500 for 2023, or $7500 if over age 50.
March 13, 2024
10:57 AM