I find myself in a usual situation this year where I expect to max my 401k (including catch ups and employer match) up to the limit of $76,500. A chunk of this (~$23,000) will be after tax contributions that immediately convert to Roth (Megaback door).
I will also have much lower earned income this year (due to a sabbatical) and I will be under the phase out for direct contributions to a Roth for the first time in a very long time. My question is, can I contribute the full $8,000 to the Roth or is it subject to the overall $76,500 retirement contribution limit ?
I will also have much lower earned income this year (due to a sabbatical) and I will be under the phase out for direct contributions to a Roth for the first time in a very long time. My question is, can I contribute the full $8,000 to the Roth or is it subject to the overall $76,500 retirement contribution limit ?
Statistics: Posted by wingman4uz — Mon Mar 04, 2024 10:35 pm — Replies 2 — Views 264