Hello,
IRS allows to contribute an additional US$6,500 to the total of US$26,000 to 401k plan for a 50+year old person.
Will CRA allow to deduct the full amount for a Canadian resident for a Canadian tax return? Will it be considered as an excess contribution for a Canadian tax purposes?
Thanks.
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- Thu Sep 02, 2021 12:28 pm
- Forum: Canada / United States Tax & Accounting
- Topic: 401 k contributions for a 50+ years old Canadian cross border worker
- Replies: 1
- Views: 3195