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Year |
Age
49 and Below |
Age
50 and Above |
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2009 and beyond |
$5000 base+Cost of living adjustments | $5000 base+Cost of living adjustments + $1000 |
The Cost of living adjustments will be based on Inflation and will be in $500 increments.
There is a limitation as to who can contribute to IRA. A taxpayer can only contribute the amount as listed in the table above if his or her Modified Adjusted Gross Income (MAGI) is below a certain level.
The annual amount you can contribute to a Roth IRA is solely dependent on your adjusted gross income as determined on your federal income tax return. The following table should help you determine whether or not you are eligible to contribute to a Roth IRA
We try to keep this site updated; but cannot guarantee the accuracy of the information provided on the site. |
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