turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Maximum Combined Contribution to 2022 SEP IRA + Roth 401K

2022 tax year - I have 2 jobs.  One is W-2 job, other is personal side job.  I contributed $27,000 to my Roth 401k through my W-2 job (maximum allowable employee contribution for employee over 50).  I would like to contribute to my SEP IRA $2,200 (maximum allowable as calculated by TurboTax).  

 

Employee Roth  + Employer Contributions + SEP                      = Total Contributions by Employee + Employers

    $27,000           +       $9,000                            +$2,200                = $38,200

 

I see that the total is under the $67,500 allowable COMBINED maximum, but am I allowed to contribute more than the $27,000 allowable EMPLOYEE contribution (Roth 401k + SEP IRA)?

 

Thank you.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
MinhT1
Expert Alumni

Maximum Combined Contribution to 2022 SEP IRA + Roth 401K

Yes, you can contribute to your self-employed SEP IRA if you are eligible, even if you have contributed the maximum of $27,000 to a Roth 401(k) at work.

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

Maximum Combined Contribution to 2022 SEP IRA + Roth 401K

Thanks so much for your expert advice!  I really appreciate your assistance.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies