- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Can my contributions to Self-Employed 401k + to IRA total more than total earned income? Or am I limited to my total earned income between the two?
We have total earned income of $20,000 on Schedule C (no other earned income).
TurboTax is allowing $5,500 for my Roth IRA, $5,500 for my spouse IRA... AND also indicates I can make a contribution of $18,000 to my Self-Employed Roth 401k. Is this right, or are we limited to the $20,000 earned income between our IRA's and the 401k? Thanks!
Topics:
‎June 4, 2019
11:36 AM