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Yes, 2 separate things (accounts). The 401K investing doesn't affect the contribution amount allowed into the IRA. However, if you are contributing to a 401k, you are an active participant in a retirement plan at work. If your modified Adjusted Gross Income exceeds a certain amount, there are limits on how much you may deduct for a contribution to a traditional IRA. You may still make a full non-deductible contribution, however.
What else can I help you with?
Can I contribute the full 6000 to my IRA if I also have a 401k?
Yes, you can contribute the full 6000 to your IRA even if you also have a 401k.
Can you contribute to both a 401K and an IRA?
yes
If you do not contribute to your 401-k can you contribute to an IRA?
You can contribute to both a 401K and an IRA at the same time (same year).
Can you contribute to both IRA and 401k at the same time?
yes, but there are earned income limits that may prevent you from deducting a Traditional IRA on your taxes if you were covered by a 401(k) As discussed here - http://www.savingtoinvest.com/2011/07/contributing-to-an-ira-and-roth-ira-if-you-already-have-a-401k.html - you can contribute to both (limits are different) based on income levels and meeting eligiblity rules.
Is a 401K the same as an IRA?
A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not.
Can I contribute the full 6000 to my IRA if I also have a 401k?
Yes, you can contribute the full 6000 to your IRA even if you also have a 401k.
Can you contribute to both a 401K and an IRA?
yes
If you do not contribute to your 401-k can you contribute to an IRA?
You can contribute to both a 401K and an IRA at the same time (same year).
If you have a 401k and an IRA can you convert some of your IRA to a roth IRA and contribute to your IRA?
Yes.as long as you do not contribute more than your annual limit.
Can you contribute to an IRA or 401k after age 70.5?
You can contribute to a Roth IRA after age 70.5 as long as you have earned income, but you cannot contribute to a traditional IRA after that age. For a 401(k) plan, it depends on the rules of the specific plan, but typically you can continue to contribute to it past age 70.5 as long as you are still working and the plan allows for it.
Can you contribute to both IRA and 401k at the same time?
yes, but there are earned income limits that may prevent you from deducting a Traditional IRA on your taxes if you were covered by a 401(k) As discussed here - http://www.savingtoinvest.com/2011/07/contributing-to-an-ira-and-roth-ira-if-you-already-have-a-401k.html - you can contribute to both (limits are different) based on income levels and meeting eligiblity rules.
Do chefs get a 401K?
Any employee, regardless of the type of work he or she performs, is eligible for a 401k if the employer offers it. An employer is not required to offer a 401k, however. If an employer-sponsored plan (401k, 403b, SEP IRA, etc.) is not available, often individuals will contribute to a Traditional IRA or Roth IRA.
Is a 401K the same as an IRA?
A 401k and a IRA are different. A 401k is a employer sponsored plan while a IRA is not.
Can I rollover my 401k to an IRA?
Yes, you can rollover your 401k to an IRA.
Can you rollover your 401k to an IRA?
Yes, you can rollover your 401k to an IRA.
Can I still contribute to my IRA for 2016?
No, the deadline for contributing to an IRA for the 2016 tax year was April 18, 2017.
Can I roll over my 401k to an IRA?
Yes, you can roll over your 401k to an IRA.
