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Retirement tax questions
In this case your maximum IRA contribution is $6,000, the lesser of the $6,000 annual limit for someone under age 59½ in 2019 or the amount that will appear in box 1 of your W-2, $10,000.
Had your $7,000 of 401(k) contributions been to the traditional account in the 401(k) instead of to the Roth account, the amount that would appear in box 1 of your W-2 would be $3,000 and your maximum IRA contribution (assuming no compensation from another employer) would be $3,000.
August 8, 2019
3:38 AM
1,890 Views