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Level 1

Question

401k Maximum

Forum|Forum|4 years ago
June 8, 2022
2 replies
6 views

If filing married and both work for couple under 55, is the maximum contribution for 401k for 2022 only 20500 for both or 41000 (20500 + 20500) ?

Level 15

401K is for an individual. So 20,500 max each person = 41,000. You can each contribute the max.

Level 6

Hello,

It is correct that the contribution limit is $ 20500 per individual in 2022.

However, if you are also above 50, you are also eligible to contribute an additional $6500 each in catch-up contributions.

https://mint.intuit.com/blog/planning/401k-contribution-limits-2/

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