Originally Posted by
Amish Pilot
Hi Denny,
You are right with one small exception. The total amount for one who turns 50 or is older is $23,000 not $22,000. 17.5K + 5.5K = 23K. The only reason I noticed, was that is what I contributed in 2013. I didn't quite reach the 415C Limit ($51K for 2013), but hopefully in 2014. Thanks for your quality posts and good luck in the playoffs.
AP
The $5000 catch up for those over 50 is not included in the $51,000 max. So in 2014, you can contribute $56,000 if you are over 50.