2006-09-17 04:07:24 · 4 answers · asked by Favie 1 in Business & Finance ➔ Investing
Yep! Great thing to do too! Just be sure to designate it on the accounts.
2006-09-17 04:39:50 · answer #1 · answered by Yada Yada Yada 7 · 1⤊ 0⤋
Yes, provided you and spouse are younger than 701/2.
According to Roth IRA rules, to qualify for the maximum contribution, married taxpayers filing a joint return must have a combined Adjusted Gross Income (AGI) of less than $150,000 and your earned income must be at least as much as the amount you want to contribute to the Roth IRA. For singles, you must have an AGI of less than $95,000 and an earned income of an amount at least equal to the contribution amount.
Remember that a Roth contribution is not tax deductible.
2006-09-17 11:23:01 · answer #2 · answered by PALADIN 4 · 0⤊ 0⤋
It's best to check with the company that administers your Roth or your accountant if you have one. Can't remember, believe it is higher for age 59 1/2 and up.
2006-09-17 11:09:58 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You should be able to if you have not violated any other requirements, but only if you have $8,000.00.
2006-09-17 11:23:21 · answer #4 · answered by Anonymous · 0⤊ 0⤋