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Retirement tax questions
UPDATED FOR TAX YEAR 2019
Contributions to your employer's 403(b) plan do not have an affect on your Roth contributions.
If contributions are made only to Roth IRAs [and not also to traditional IRAs] your contribution limit generally is the lesser of: $6,000 ($7,000 if you are age 50 or older), or your taxable compensation.
If contributions are made to both Roth IRAs and traditional IRAs established for your benefit, your contribution limit for Roth IRAs generally is the same as your limit would be if contributions were made only to Roth IRAs, but then reduced by all contributions for the year to all IRAs other than Roth IRAs.
Your contribution may be limited if your modified AGI reaches certain levels. Please see the chart on p. 43 of IRS Publication 590-A - Contributions to Individual Retirement Arrangements (IRAs)
[Edited | 4/10/2020 | 1:28pm PDT]
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