topic Roth 403B Limits in Retirement tax questions

Roth 403B Limits

Lexsalas14 — Fri, 24 Jan 2025 17:26:33 GMT

While I was filing my taxes with Turbo Tax, I mistakenly selected that I had a Roth IRA account. I did input the correct information- I was married and filing separately from my (now ex) spouse, and lived with them at some point last year. I contributed to my Roth retirement account too.

I got a notice from TurboTax stating that I made an excess contribution. The IRS states that for my situation, I cannot make a contribution to a Roth IRA at all for 2024.

However, I realized that I do NOT have a Roth IRA. I have a Roth 403B through my job, which is a non profit.

This whole thing made me question things though. Does my situation still affect my ability to have contributed to my Roth 403B in 2024 too? As in, would I be penalized for contributing to this account and filing married but separate (having lived with my spouse at some point last year)?

Re: Roth 403B Limits

dmertz — Fri, 24 Jan 2025 19:13:57 GMT

Your marital status has no effect on the amount that you were eligible to contribute to the 403(b).

The 403(b) plan would generally prevent you from making excess contributions (as long as you do not have another employer where you make deferrals to a 403(b), 401(k), SIMPLE plan, SARSEP plan or the federal TSP which all have a combined elective deferral limit).

Re: Roth 403B Limits

Lexsalas14 — Fri, 24 Jan 2025 22:25:58 GMT

Thanks!