The National Directory of Certified Public Accountants

Ask A CPA - Investments & Financial Planning

Can I Still Contribute To An IRA , If I Contribute To A 401(K) Retirement Plan ?

Yes, The contribution limits set by the IRS for IRAs and 401k plans do not overlap, meaning that your contributions to a 401k plan do not impact your ability to contribute to an IRA, and vice versa. However, your earned income, such as salaries, must equal or exceed your contribution amount.

If you need professional help with "Investments & Financial Planning" or have other tax questions, we can help you find a local licensed CPA for a free, no-obligation consultation.