At the beginning of 2018 I left my previous employer and knew I would have a substantial payout of PTO. So upon leaving, I made a $3000 contribution to my employer 401k plan. $2000 into the 401k and & $1000 into the Roth 401k portion of the plan. After moving I started to do a lot of financial self education and decided to open my own Roth IRA. I end up managing to max it out for 2018 (yay me!). It wasn't until tax planning I realized my mistake. $5500 contributed into Roth IRA and $1000 contributed to prior employer Roth 401k. Now I'm assuming I violated the contribution limits. Does the Roth regulations apply to Roth 401ks also? I'm finding contradicting information online. What is my best plan of action?
Submitted February 17, 2019 at 11:00AM by fishfarms http://bit.ly/2toaxKu
