IRS limit for pre-tax contribution for new comer

jaloops · Post by **jaloops** » Mon Feb 04, 2013 1:05 am

Entered US in December 2012. That tax will be filed as foreign income (from Canada).

For the person who is going to be filing tax for the first time in US in 2014 for the tax year 2013, which US income, what is the IRS default limit for pre-tax contribution. My employer's service provider is asking to fill online form for pre-tax and ROTH and I am assuming 10% will be a good amount to start. Don't know the limit for the new comer though. This is what is norm for Canadian RRSP/DRSP contribution.

nelsona · Post by **nelsona** » Mon Feb 04, 2013 6:47 am

The limit is 17,500 per calendar year; nothing to do with "newcomer" status, whatever that might mean to you.

It is nt the same as for RRSP, which is based on income.

jaloops · Post by **jaloops** » Mon Feb 04, 2013 9:21 am

Oh. OK. Thats simple. But can the unused portion of the limit be carry forward to the next year? Is it also applicable on Roth as well? Is this limit including employer match as well or just the individual's?

nelsona · Post by **nelsona** » Mon Feb 04, 2013 10:52 am

No carry over. You can contribute a total of $17.5K, between your 401(k) and Roth401(k).