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Subject:  Re: 1 401(K) and 2 Roth IRAs? Date:  5/24/1999  5:12 PM
Author:  rhecker Number:  10741 of 90804

Yes, he can contribute the maximum to his Roth IRA as well as the maximum to his 401K through his employer. It would not affect the maximum contribution to the 401k.

If you exceed the joint filing income limit of $150-160k, you will not be able to make contributions to a Roth IRA. Between $150k and $160k there is a phase out range... less than $150k you can make a full contribution, and within that range the allowable contribution is reduced until you cannot contribute anything to the Roth IRA when your (combined) income exceeds $160k. For more details, see "All About IRAs" here at TMF:

(this link goes specifically to info about contributions and income limitations, but it's easy to get to other IRA info from there)
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