Roth accounts have income limits in order to participate. In 2024, if a single filer earns more than $161,000 they cannot contribute to a Roth, or $240,000 for married filers. (These limits are $153,000 and $228,000 in 2023, respectively).4 For Roth 401(k)s, distributions are requ...
Many tax deductions have limits. The deduction for student loan interest, for example, is capped at $2,500 and the deduction for educator expenses has a $300 limit. (Both of these deductions are available even if you don’t itemize.)...