2007-02-19 06:43:53 · 4 answers · asked by Suz 2 in Business & Finance ➔ Personal Finance
It has gone up. It is $4000/year per person. It begins to phase out meaning you can't add after your Adjusted Gross Income reaches $100,000/year for married. I'm not sure what the phase out is for single. Also, this amount is more if you are 52 or older. In think it is $5000/year per person in that instance. This is for 'catch up'.
2007-02-19 07:44:53 · answer #1 · answered by Saved! 2 · 0⤊ 0⤋
There is no limit based on your gross income. You are only allowed to contribute $2,000 per year.
Good luck and have a great day!
2007-02-19 14:52:31 · answer #2 · answered by purple_amanecer 3 · 0⤊ 0⤋
Its not based on your gross income, there's usually an annual limit. My 401K for 2006 had a limit of 15.5K.
2007-02-19 14:48:51 · answer #3 · answered by Amy V 4 · 0⤊ 0⤋
I thought it was $2000. per year, 4000. if married filing jointly. But it has been a while since I studied it.
2007-02-19 14:49:39 · answer #4 · answered by stick man 6 · 0⤊ 0⤋