☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 6, 2019 12:41:20 AM

Can I Contribute to both 401k (maximum allowed 18500), and Roth IRA max allowed $5500 in the same year?

I am already contributing the maximum allpwed to my 401k, wanted to know if it is possible to also contribute to a Roth IRA in the same year.

0 1 864
1 Replies
Expert Alumni
Jun 6, 2019 12:41:23 AM

It depends on your Modified Adjusted Gross Income (MAGI).

Please read this IRS document to see if you can contribute to a Roth IRA:

https://www.irs.gov/retirement-plans/plan-participant-employee/amount-of-roth-ira-contributions-that...