I read IRS pub 590 and I am confused if Roth max contribution is $4,000 for a couple or $4,000 each filer, i.e. $8,000. Would appreciate expert answer.
2006-09-27 13:11:54 · 3 answers · asked by paanbahar 4 in Business & Finance ➔ Investing
Basically, as long as your joint modified AGI is less than $150k, you can contribute $4000 and your spouse can contribute $4000. If your joint modified AGI is between $150k and $160k, then the amount each of you can contribute is reduced. If your joint modified AGI is $160k or more, then neither one of you can contribute to a Roth.
2006-09-27 15:55:08 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Max for any retirement account is $9K/year I believe.
2006-09-27 13:19:29 · answer #2 · answered by Mazz 5 · 0⤊ 0⤋
if you make that much hire an accountant
2006-09-27 13:13:23 · answer #3 · answered by Anonymous · 0⤊ 0⤋