Common use of Carryback Contributions Clause in Contracts

Carryback Contributions. If you make a contribution between January 1 and April 15, tell the Custodian which tax year the contribution is for. If you do not indicate otherwise, the Custodian will report it to the IRS as a current year contribution (the year received). Contributions to Multiple IRAs. If you have more than one Traditional IRA, the contribution limits listed below apply to the total amount you may contribute to all of your IRAs for the year. If you also have a Xxxx XXX, the contribution limits listed below are reduced by any amounts you contribute to your Xxxx XXX for the tax year. In addition, employer retirement plans may establish separate accounts to receive voluntary employee contributions. If the account meets the requirements of an IRA and you make voluntary employee contributions to that separate account, the total amount listed below that you may contribute to all of your IRAs is reduced by those voluntary employee contributions. Contribution Limits. Your annual contribution amount may not exceed $6,000 for tax year 2019 with possible cost-of-living adjustments each year thereafter, if any. For each year in which you are age 50 or older before the end of the calendar year, you may make an additional catch-up contribution of up to $1,000. Your total contribution amount (including catch-up, if applicable) may not, however, exceed an amount equal to your compensation for that tax year unless you are married and filing a joint federal income tax return. If you are married, filing a joint tax return, the total amount you and your spouse may contribute to IRAs in aggregate for any tax year (including catch-up contributions, if applicable) may not exceed the combined compensation of you and your spouse for that same tax year.

Carryback Contributions. If you make a contribution between January 1 and April 15, tell the Custodian which tax year the contribution is for. If you do not indicate otherwise, the Custodian will report it to the IRS as a current year contribution (the year received). Contributions to Multiple IRAs. If you have more than one Traditional IRA, the contribution limits listed below apply to the total amount you may contribute to all of your IRAs for the year. If you also have a Xxxx XXX, the contribution limits listed below are reduced by any amounts you contribute to your Xxxx XXX for the tax year. In addition, employer retirement plans may establish separate accounts to receive voluntary employee contributions. If the account meets the requirements of an IRA and you make voluntary employee contributions to that separate account, the total amount listed below that you may contribute to all of your IRAs is reduced by those voluntary employee contributions. Contribution Limits. Your annual contribution amount may not exceed $6,000 5,500 (for tax year 2019 2017) with possible cost-of-living adjustments each year thereafter, if any. For each year in which you are age 50 or older before the end of the calendar year, you may make an additional catch-up contribution of up to $1,000. Your total contribution amount (including catch-up, if applicable) may not, however, exceed an amount equal to your compensation for that tax year unless you are married and filing a joint federal income tax return. If you are married, filing a joint tax return, the total amount you and your spouse may contribute to IRAs in aggregate for any tax year (including catch-up contributions, if applicable) may not exceed the combined compensation of you and your spouse for that same tax year.

Carryback Contributions. If you make a contribution between January 1 and April 15, tell the XXX Custodian which tax year the contribution is for. If you do not indicate otherwise, the Custodian will report it to the IRS as a current year contribution (the year received). Contributions to Multiple IRAs. If you have more than one Traditional IRAXxxx XXX, the contribution limits listed below apply to the total amount you may contribute to all of your Xxxx IRAs for the year. If you also have a Xxxx Traditional XXX, the contribution limits listed below are reduced by any amounts you contribute to your Xxxx Traditional XXX for the tax year. In addition, employer retirement plans may establish separate accounts to receive voluntary employee contributions. If the account meets the requirements of an IRA XXX and you make voluntary employee contributions to that separate account, the total amount listed below that you may contribute to all of your IRAs is reduced by those voluntary employee contributions. Contribution Limits. Your annual contribution amount may not exceed $6,000 5,500 (for tax year 2019 2016 and 2017) with possible cost-of-living adjustments each year thereafter, if any. For each year in which you are age 50 or older before the end of the calendar year, you may make an additional catch-up contribution of up to $1,000. Your total contribution amount (including catch-up, if applicable) Repayments of Qualified Reservist Distributions. You may not, however, exceed an amount equal repay “qualified reservist distributions” by making one or more contributions to your compensation for Xxxx XXX within two years of the end of your active duty. The aggregate amount that tax year unless you are married and filing a joint federal income tax return. If you are married, filing a joint tax return, the total amount you and your spouse may contribute to IRAs in aggregate for any tax year (including catch-up contributions, if applicable) be repaid may not exceed the combined compensation amounts of you such distributions and is in addition to other eligible contribution amounts. No tax deduction is allowed for these contributions. For more information, consult your spouse for that same tax yearadvisor.