Answered: Spouse (age 43) maxed out her 401(k) at $18,500 and took out a Roth IRA for $5500 It is coming up as taxable to the tune of $330. Help?

nmr12354 · ‎12-07-2019

sjrcpa · ‎12-07-2019

The Roth limit has nothing to do with the 401(k) deferral limt. She must be over the AGI limit for Roth contributions. The software has worksheets showing the calculation. If she overcontributed by $300 she can withdraw it, plus earnings by April 15.

The more I know, the more I don't know.

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sjrcpa · ‎12-07-2019

The Roth limit has nothing to do with the 401(k) deferral limt. She must be over the AGI limit for Roth contributions. The software has worksheets showing the calculation. If she overcontributed by $300 she can withdraw it, plus earnings by April 15.

The more I know, the more I don't know.

nmr12354 · ‎12-07-2019

She is over the AGI limit. I didn't realize. AGI was an issue.

Spouse (age 43) maxed out her 401(k) at $18,500 and took out a Roth IRA for $5500 It is coming up as taxable to the tune of $330. Help?

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