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...However, I'm interested in maximizing the amount of money I put into retirement accounts. I've been told that some 401k plans allow you to make a non-deductable contribution, in addition to your deductable contributions. Would it be possible to setup an Individual 401k to do that? What is the maximum amount I could contribute in such a way? Is there an equivalent to form 8606 that would need to be filed with the IRS to document this non-deductable contribution?

I don't believe you can structure an individual 401(k) plan to accept after tax contributions, but I don't know that with certainty (and I don't have the time right now to do the research). However, beginning in 2006 and extending through 2009 or 2010 (I don't remember when this part of the law "sunsets"), you can create a Roth 401(k) plan where you can contribute after-tax dollars and the appreciation over time will be tax free upon distribution. Unlike the Roth IRA, there will be no upper income limit on qualifying to contribute. Also, unlike the Roth IRA, you will be required to take MRDs as of age 70 1/2. These MRD's can be avoided by converting all 401(k) plans to corresponding IRAs (traditional to traditional; Roth to Roth) at the appropriate time.

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