Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
cullen-shields
New Member

Can I have a Roth 401k and a regular Roth IRA at the same time?

 
1 Best answer

Accepted Solutions
VictoriaD75
Expert Alumni

Can I have a Roth 401k and a regular Roth IRA at the same time?

Yes, as long as you meet the eligibility criteria on both. For instance, the Roth IRA has income limitations and both have maximum contribution amounts. The IRS has a helpful table that compares the two and includes up-to-date dollar amounts. Keep in mind that contributions are not deductible for either the Roth 401k or Roth IRA.

 

Roth Comparison Chart

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

1 Reply
VictoriaD75
Expert Alumni

Can I have a Roth 401k and a regular Roth IRA at the same time?

Yes, as long as you meet the eligibility criteria on both. For instance, the Roth IRA has income limitations and both have maximum contribution amounts. The IRS has a helpful table that compares the two and includes up-to-date dollar amounts. Keep in mind that contributions are not deductible for either the Roth 401k or Roth IRA.

 

Roth Comparison Chart

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Dynamic AdsDynamic Ads
Privacy Settings
v