I contributed 3,600 to my Roth IRA last year and 2,600 to my employer's deferred compensation plan. Am I over the 5,500 limit?
Is the $5,500 limit a total contribution limit or just roth?
04609
4 Replies
IreneS
Intuit Alumni
Jun 6, 2019 1:50:12 AM
No. The contribution limit applies only to your IRA contributions.
spencer300
New Member
Jun 6, 2019 1:50:13 AM
So do I not report my 2,600 on turbo tax? I entered it into the traditional IRA section since it goes into a Vangaurd target 2050 retirement mutual fund.
dmertz
Level 15
Jun 6, 2019 1:50:15 AM
The $2,600 shown in box 12 of your W-2 is to be entered only in box 12 of TurboTax's W-2 form. Do not include it anywhere under Deductions & Credits.