Jane wrote:

- quote -

Whatever your employer allows, up to the catch-up amount (which does
apply to you, based on your age).

The real question is: earning $25K, will your employer allow you make a
contribution of even $16.5K, let alone $22K (the 401k annual elective
deferral limits for 2009)? That would be an extraordinarily high
percent of your salary or wages, given that the employer has to provide
some balance of the tax deferral benefit across most employees, not just
a few.

-Mark Bole

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On Apr 28, 8:53*pm, kam...[at]panix.com (Arthur Kamlet) wrote:
- quote -

What about a "catch-up" contribution to my 401k? I've never looked
into this so I don't know anything about it.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

In article <54d94235-c697-461c-82ef-5e0304fef25f[at]d25g2000prn.googlegroups.com> ,
Jane <googlemail2003[at]yahoo.com> wrote:
- quote -


The total of your Roth and traditional IRA contributions is 6000,


So you have met that total and cannot contribute to the traditional
IRA (unles for some unexplained reason want to recharacterize
some or all of your Roth contributions as Traditioinal contributions
and file a form 8606. Offhand I don't know why you would do that unless
you were not eligible to make a 2009 Roth contribution due to AGI limits
or filing status.

--

ArtKamlet at a o l dot c o m Columbus OH K2PZH

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >

I am 64 years old. I work part time and earn about $25k. I have
already contributed $6000 to a ROTH IRA for 2009. Can I also put
money into a non-deductible IRA for this year? If so, what would be
the maximum I could contribute?

thank you.

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<< ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- >