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#2
07-31-2003, 04:05 AM
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 Re: How do you deal with 403B and 401K contributions in the same "Gautam Desai" <desai[at]meru.com> wrote: - quote - > My wife was a resident physician with a 403B plan earlier
She cannot make any more deferral contributions for 2003.> this year. Upon graduation she started a job that has a 401K > plan. I understand the tax deferred contibution limit for > 2003 to the 401K is $12K, but can she contribute the full > $12K tax deferred seeing as how she made contributions to a > 403B earlier in the year? -- David M. Woods, EA Boston, MA 02109 Postings here are general information only and not to be relied upon as advice. << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
07-31-2003, 03:46 AM
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| Re: How do you deal with 403B and 401K contributions in the same year? Gautam Desai <desai[at]meru.com> wrote: - quote - > My wife was a resident physician with a 403B plan earlier
For the year 2003, the total she can contribute pre-tax to> this year. Upon graduation she started a job that has a 401K > plan. I understand the tax deferred contibution limit for > 2003 to the 401K is $12K, but can she contribute the full > $12K tax deferred seeing as how she made contributions to a > 403B earlier in the year? all of her 401k, 403b, 457, & SAR-SEP plans put together is 12,000. If she contributed 7000 to her 403b pretax then she can contribute 5000 pretax to her 401k. She can also contribute a much larger amount after-tax. __ Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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07-31-2003, 03:46 AM
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| Re: How do you deal with 403B and 401K contributions in the same year? desai[at]meru.com (Gautam Desai) wrote: - quote - > My wife was a resident physician with a 403B plan earlier
The annual limit on contributions applies to the sum of> this year. Upon graduation she started a job that has a 401K > plan. I understand the tax deferred contibution limit for > 2003 to the 401K is $12K, but can she contribute the full > $12K tax deferred seeing as how she made contributions to a > 403B earlier in the year? 401(k) and 403(b) contributions. Her annual limit for both plans combined is $12000. Alan http://taxtopics.net << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
07-30-2003, 07:57 PM
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| How do you deal with 403B and 401K contributions in the same year? My wife was a resident physician with a 403B plan earlier this year. Upon graduation she started a job that has a 401K plan. I understand the tax deferred contibution limit for 2003 to the 401K is $12K, but can she contribute the full $12K tax deferred seeing as how she made contributions to a 403B earlier in the year? << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
| Tags |
| 401k, 403b, contributions, deal, year |
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