@dmertz thank you for this clarification. I forgot that I had entered $12,500 for my contributions for 2023 to my Individual Roth 401(k) plan. However, I've actually only deposited $4,250 into this plan so far and $4,250 into another Roth IRA for a total of $8,500 between two accounts and I was *planning* on contributing an additional $8,250 into the Individual 401(k) account.
With a NET profit for the year of 2023 in the amount of $12,500, how much more can I contribute to my Individual 401(k) account beyond the $4,250 already deposited?
