Comments on: 401(k) and traditional IRA contribution limits? http://www.iraroth.net/2010/01/401k-and-traditional-ira-contribution-limits/ IRA Questions and Answers Thu, 20 Oct 2011 14:36:38 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: MadMan http://www.iraroth.net/2010/01/401k-and-traditional-ira-contribution-limits/comment-page-1/#comment-335 MadMan Sat, 09 Jan 2010 17:53:45 +0000 http://www.iraroth.net/2010/01/401k-and-traditional-ira-contribution-limits/#comment-335 Money to an IRA will be after tax as you have a 401K. The amount you contribute to the 401K does not matter. Contributing anything means that you cannot fund an IRA pretax. If you are eligible, look into a Roth IRA. Money to an IRA will be after tax as you have a 401K. The amount you contribute to the 401K does not matter. Contributing anything means that you cannot fund an IRA pretax. If you are eligible, look into a Roth IRA.

]]> By: the tax lady http://www.iraroth.net/2010/01/401k-and-traditional-ira-contribution-limits/comment-page-1/#comment-334 the tax lady Sat, 09 Jan 2010 17:05:46 +0000 http://www.iraroth.net/2010/01/401k-and-traditional-ira-contribution-limits/#comment-334 See IRS publication 590 for the limits. For 2009, singles were phased out starting at $53K of income. See IRS publication 590 for the limits.

For 2009, singles were phased out starting at $53K of income.

]]> By: Chris http://www.iraroth.net/2010/01/401k-and-traditional-ira-contribution-limits/comment-page-1/#comment-333 Chris Sat, 09 Jan 2010 16:17:43 +0000 http://www.iraroth.net/2010/01/401k-and-traditional-ira-contribution-limits/#comment-333 Yes you can contribute to both. Limits are $5,000.00 for the IRA and $16,500.00 for the 401(k) for people up to age 49 in 2009. If 50 yrs old or older, limits are $6,000.00 for the IRA and $22,500.00 for 401(k). Good luck Yes you can contribute to both. Limits are $5,000.00 for the IRA and $16,500.00 for the 401(k) for people up to age 49 in 2009. If 50 yrs old or older, limits are $6,000.00 for the IRA and $22,500.00 for 401(k). Good luck

]]> By: tro http://www.iraroth.net/2010/01/401k-and-traditional-ira-contribution-limits/comment-page-1/#comment-332 tro Sat, 09 Jan 2010 16:10:43 +0000 http://www.iraroth.net/2010/01/401k-and-traditional-ira-contribution-limits/#comment-332 you can contribute to both but your income limit may have some restriction on how much is deductible to be safe the Roth would be the better since no tax consequence happens at contribution or distribution and any money I had in mutuals lost big last year I never, never like mutuals you can contribute to both but your income limit may have some restriction on how much is deductible
to be safe the Roth would be the better since no tax consequence happens at contribution or distribution
and any money I had in mutuals lost big last year I never, never like mutuals

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