- Contributions to IRAs and Roth IRAs are aggregated. This means that you cannot contribute $5,500 to each type (i.e., traditional and Roth IRA); however, you can contribute some to each up to the $5,500 combined limit. If you are aged 50 or older in 2017, your IRA contribution increases to $6,500.
- TRADITIONAL IRA CONTRIBUTIONS: While the IRS rules allow for contributions to both Solo 401k plan and IRAs, since you are participating in a solo 401k plan, your traditional IRA contributions may not be deductible. See the chart listed on the following IRS link for these limits:
- ROTH IRA CONTRIBUTIONS: While you can also contribute to Roth IRAs and solo 401k plans, not everybody qualifies if their modified AGI is over a certain limit. For these limits, please see the following charts.