Maxing out 401K

Hunt2871

My wife and I are in a position to max out both our 401ks but I am unclear if we can both do it to lower our taxable income. We are both over 50 and it is my understanding that the catchup contribution amount for 2019 is $6K for a total of $25K. Does this mean that I can contribute $25K and she can do the same and our taxable income will be reduced by $50k (filing jointly)? Is there an income limit?

00ec25

you may have noticed we write in English English here, not American English, and refer to £ not $, due to the fact this is a UK website, not a US one

you would be better off finding a USA website to ask your question on

Skibunny40

As 00ec25 says, you're unlikely to get much help here as this is a UK website. Try the forum on mrmoneymustache.com as it's a US site and very similar format to this one. Good luck!