in Investing
4653
Hey everyone!
I changed jobs this year and rolled over my 401k to an IRA. What I'm wondering is if my contributions count towards my 2018 limit.
To make things simpler:
I contributed 2,000 to my 401k at Job A
When I left Job A I rolled that over to an IRA
Now that I'm at Job B how much can I contribute to my 401k for 2018?
You'll need to sign in or create an account to connect with an expert.
The 401k contribution limit for 2018 is $18,500. You can contribute an additional $6,000 if you are age 50 or over. The contribution limit does not include employer matching funds. The limit applies to the total 401k elective deferrals. So if you are under age 50 and have contributed $2,000, then you should have $16,500 remaining.
401k rollover to IRA does not affect your annual contribution to IRA. IRA ocntribution does have income limit and be sure to check that instead.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
richlyntek
Level 1
in Investing
Curious One
Level 4
in Investing
vze56v6x
Level 3
in Investing
ItsMeZee23
New Member
in Investing
Snoopy70
Level 3
in Investing