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Message
Simple IRA affect on Roth IRA
Posted on 2/18/15 at 9:41 pm
Posted on 2/18/15 at 9:41 pm
Does contributions to a simple IRA reduce the amount you can contribute to a Roth IRA?
2
Posted on 2/18/15 at 10:29 pm to Golfer2012
No
Posted on 2/18/15 at 10:38 pm to Golfer2012
Generally, you are only allowed to contribute the $5,500 to IRAs in total for the year. However, SIMPLEs are employer sponsored and do not share the same contribution limits as the Traditional or Roth.
No is the answer to your question for a SIMPLE but yes is the answer to your question for a non-employer (Traditional) IRA. Just making sure you are using the right term for the question
No is the answer to your question for a SIMPLE but yes is the answer to your question for a non-employer (Traditional) IRA. Just making sure you are using the right term for the question
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