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February 14, 2021
Question

2020 taxes: I maxed on Employer 401k - Can I also contribute to my IRA?

  • February 14, 2021
  • 1 reply
  • 0 views

Greetings,

  I contributed the maximum via my employer 401k plan.  I would also like to contribute additional funds to my IRA.  Can I do so without penalty, and better yet, with a tax benefit?

  Thanks in advance,

   Lisa

    1 reply

    ColeenD3
    February 14, 2021

    You can contribute up to $6,000 to an IRA but the amount you can deduct is limited by your income.