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Keithc2
Returning Member

Roth IRA

Can I contribute to a Roth IRA if I’m contributing the maximum amount to a 401k? I make over $300,000 per year

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‎July 26, 2023 10:43 AM
last updated ‎July 26, 2023 10:43 AM
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GuodaL
Expert Alumni
Expert Alumni

Roth IRA

Hi Keithc2,

That is a good question. The Roth IRA income limits for 2023 are less than $153,000 for single tax filers, and less than $228,000 for those married, and filing jointly. Unfortunately you will be able to make contribution to Roth IRA, however you can still contribute to Traditional IRA and then convert to a Roth IRA. To learn more about IRA conversion, please visit the website below.

https://turbotax.intuit.com/tax-tips/investments-and-taxes/now-everyone-can-convert-to-a-roth/L4NEqO... 

Hope this answers your question. Feel free to reply to this message if you have any additional questions.

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‎July 26, 2023 10:49 AM
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