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Showing posts with label california form 3522. Show all posts
Showing posts with label california form 3522. Show all posts

Monday, November 14, 2011

Keogh & 401k

AskTaxGuru.com Junior Member, hanna, asked:
Hi. I have a keogh account in which I am making the maximum contribution. This year, I was hired by a new employer and plan to contribute the maximum to my 401(k) account. I understand that these two accounts are defined contribution plans. I'm unclear, however, on if I should be treating these two accounts as one account to figure out my deduction limit or if I can take a deduction for the contributions made to the account with my new employer and an additional deduction for contributions to my self-employed plan.

Any advice will be much appreciated!

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