rules for individual 401K
I am partly-RE'ed and do contracting work: both as a W-2 employee
of an agency and as a actual consultant (with 1099 compensation).
The agency's 401K sucks, so I'd like to setup an individual-401K with
my broker. I imagine I can contribute to the individual-401K from
the 1099 work, but I wonder if I'm limited to the total 1099
compensation (if it's below $15K) or if I can I contribute more based
on the W-2 income.
I'm guessing, ballpark, I'll have $10K 1099 compensation and $30K
W-2. So am I limited to $10K in the individual 401K, or can I max
it out ?