Civilian ROTH IRA Limit for those under 59.5 years old: $7000/year as of 2024
Military ROTH TSP Limit: 5 percent of paycheck
If I were to max out one or the other, would I be able to contribute to the other without accruing a penalty on my taxes?
For example, if I were to make $7,000 in contributions to my Civilian ROTH IRA and I continue to make 5 percent payments into my TSP from my reservist paycheck, will I be penalized for doing so?
Maxing Out ROTH TSP + Maxing Out Civilian ROTH IRA; If I were to max out one or the other, would I be able to contribute to the other without accruing a penalty on my taxes?
byu/AnonymousEbe_new inMilitaryFinance
Posted by AnonymousEbe_new