If filing married (joint or separate), enter combined amount for you and your spouse. Enter your Fixed Date Conformity (FDC) additions, if applicable. If filing married (joint or separate), enter combined amount for you and your spouse. Enter your Fixed Date Conformity (FDC) subtractions, if applicable. If filing married (joint or separate), enter combined amount for you and your spouse.
Savers and investors aged 50 or older can take advantage of a catch-up contribution, effectively increasing the limit for those approaching traditional retirement age. In 2015, taxpayers who meet this age-based criterion can contribute an additional $6,000 above the regular maximum of $18,000.y the end of the year, I expect to have maximized the employee portion of my 401(k) contributions at $16,500 with extra invested for the employer portion. My 2010 contributions fell short from the maximum by about $700, and a portion of that is due to leaving the company in the middle of December.
A 401(k) plan can permit participants who are age 50 or over at the end of the calendar year to also make catch-up contributions. The catch-up contribution limit is $5,500 for 2014 and $6,000 for 2015.As a self-employed individual participating in the plan, you can contribute part of your before-tax net earnings from the business.) This contribution is called an elective deferral because participants choose (elect) to defer receipt of the money.