If you are 60 and TOTAL earned income is 7K and you max out Solo 401K(~6,800), can you also contribute 6,500 to Traditional IRA?. Proseries is saying 6,500 excess contrib

pm-zz · ‎12-07-2019

Self Employed with profit of $7K and NO other earned income. Can they contribute maximum (~$6,800 to solo 401K) and also contribute $6,500 to a Traditional IRA? Proseries is calling the 6,500 an excess contribution.

IRonMaN · ‎12-07-2019

I think ProSeries made a good call.

Slava Ukraini!

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