Is there a maximum dollar deferral a taxpayer can take for all such retirement plans?? My research gives me maximum for piecemeal plans, but no total for all plans.
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I'm not sure what definition of "deferral" you are using, as not all contributions to retirement plans are deferrals.
But in general, see Pub 550.
the pub goes on to note specifics for various types of plans.Compensation limits for 2023 and 2024. For 2023, the
maximum compensation used for figuring contributions
and benefits is $330,000. This limit increases to $345,000
for 2024.
I don't believe there is any law that lists all available retirement plans and states there is a maximum combined limit, so what you are looking for probably does not exist. (other than it can't exceed the $345K max compensation limit).Last edited by Rapid Robert; 02-04-2025, 11:52 AM."You said it, they'll never know the difference. Come on, we'll paint our way out!" - Moe Howard -
Are you referring to the 415 limit? Its $69,000 for 2024 https://www.irs.gov/pub/irs-drop/n-24-80.pdf"Dude, you are correct" Rapid RobertComment
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RR and Dude thank you.
I'm finding out what RR has said is exactly what I'm running into. Piecemeal for all plans, but I didn't know there was a $345,000 ceiling for total income.Comment
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