Jump to content
Sign in to follow this  
1qazxsw2

2005 Tax

Recommended Posts

I was a state government employee from 01/01/2005 to 03/25/2005. I contributed $5000 to my 457(b) account. Then I switched job. I was a private company employee from 03/28/2005 to 12/31/2005. I contributed $13000 to my 401(k) account. So my total deferred amount is $18000. Do I need to include $4000 as my salary for 2005 tax purpose? ($18000 - $14000 = $4000)

Thank you,

Jay

 

Share this post


Link to post
Share on other sites
Guest Sierra

I was a state government employee from 01/01/2005 to 03/25/2005. I contributed $5000 to my 457(b) account. Then I switched job. I was a private company employee from 03/28/2005 to 12/31/2005. I contributed $13000 to my 401(k) account. So my total deferred amount is $18000. Do I need to include $4000 as my salary for 2005 tax purpose? ($18000 - $14000 = $4000)

Thank you,

Jay

 

No, you are just fine----one can max out on both a 457(b) and 401(k) during the same tax year.

Edited by Sierra

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

×
×
  • Create New...