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Publication 571 2001 Tax Year

General Limit

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This is archived information that pertains only to the 2001 Tax Year. If you
are looking for information for the current tax year, go to the Tax Prep Help Area.

Under the general limit on elective deferrals, the most that can be contributed to your 403(b) account through a salary reduction agreement for 2001 is $10,500. The limit for 2002 is $11,000. This limit applies without regard to community property laws.

Excess elective deferrals. If the amount contributed is more than the allowable limit, you must include the excess in your gross income for the year contributed. This is explained in chapter 11.

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