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Yes, for 2017 the limit is 18k . But it’s worth noting for those that may not know how a 401k works (I’m not suggesting that’s you) - it’s not “tax free”, it’s
by nerdwaller 9y ago
Yes, for 2017 the limit is 18k . But it’s worth noting for those that may not know how a 401k works (I’m not suggesting that’s you) - it’s not “tax free”, it’s just deferred until withdrawn (for a traditional 401k, there is also a Roth variant like IRAs).
- astura 9y agoCapital gains are tax free.
- nerdwaller 9y agoTrue, as of current only distributions from the account are taxed (and are taxed at current income rates, what happened to make the account grow doesn't come into play). Good clarification!