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If the employee made after-tax contributions to the 401(k) account, these amounts are commingled with the pre-tax funds and simply add to the 401(k) basis. When distributions are made, the taxable portion of the distribution will be calculated as the ratio of the after-tax contributions to the total 401(k) basis.
An after-tax 401(k) allows savers to put after-tax money into a 401(k) account, and that money can grow on a tax-deferred basis until retirement. When it comes time to take a distribution ...
Any 401(k) withdrawal that occurs before age 59 1/2, however, may be subject to an additional tax and a 10 percent penalty. Roth 401(k): Contributions are made with after-tax dollars, meaning you ...
Your employer may allow you to make after-tax 401(k) contributions. These are not tax-deductible like your regular 401(k) contributions, but you can make after-tax deferrals beyond the annual 401 ...
Unlike a regular 401(k), contributions to a Roth 401(k) won’t lower your current tax bill. ... With a Roth 401(k), you contribute post-tax dollars and the money you put in counts as current ...
The new contribution limit for 401(k)s and other workplace retirement plans in 2025 will be $23,500, up from $23,000 currently, the Internal Revenue Service said Friday.
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