Tag Archives: making 401k and IRA contributions

Can I contribute to a Solo 401k, Roth IRA, and Traditional IRA for 2020?

Contributions to IRAs and Roth IRAs are aggregated. This means that you cannot contribute $6,000 to each type (i.e., traditional and Roth IRA); however, you can contribute some to each up to the $6,000 combined limit. If you are aged 50 or older in 2020, your IRA contribution increases to $7,000. TRADITIONAL IRA CONTRIBUTIONS: While […]