Contributions to IRA and 403(b) with only $6000 earned income

[MadisonWI]

I have $6000 earned income.

Of the $6000, $4000 went into my traditional 403(b) plan at my employer, and $1000 to other before-tax deductions. The rest went to social security, medicare tax, withholding, and my bank account.

Can I also contribute $6000 to a traditional IRA (for conversion to a Roth IRA to accomplish a backdoor Roth)? Or can I only contribute a smaller amount to an IRA?

[RobertB4444]

You can contribute to a traditional IRA even if you have an employer plan at work.  However, depending on the total of all of your income it may not be deductible.

If your total earned income for the year is $6000 your contribution limit for the year is also $6000.  

@MadisonWI 

[MadisonWI]

In reviewing IRS Pub 590-A (2023), p. 6, it talks about taxable compensation received during the year. But the before-tax deductions ($4000 + $1000) are not taxable during the year received (at least not income taxable, although they are used for social sec. and medicare tax). So maybe I can contribute only the remaining $1000 of the total $6000 that I received from my employment. Please clarify.

Note also Table 1-1 on p. 7 says that any amounts you exclude from income is not taxable compensation.

[RobertB4444]

That's exactly correct.  The amount in box 1 of your W2 is the limit that you have to contribute to a traditional IRA.

@MadisonWI