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Level 6

Retirement plan contribution limits

Let's say my:

Before Tax Income for the year: $10,000

Amount withheld and subsequently paid in income taxes: $2,000 ($1,500 Federal + $500 State)

Employee contribution to Roth 401K plan at work: $7,000


My question is: How much can I contribute to my Roth IRA that year?

$1,000? (After Tax Income - Contributions to other plans)

$3,000? (Total Income - Contributions to other plans)

$6,000? (Total Income up to $6,000/year limit regardless of my contributions to other plans)


2 Replies
Level 17

Retirement plan contribution limits

 employer contributions are ignored, but your contributions are limited to the lesser of $6,000 or compensation 

Level 20

Retirement plan contribution limits

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.