Comments on: Roth IRA Basics http://thepennysaved.com/2007/03/29/roth-ira-basics/ Personal Finance, career, investing, retirement, saving and debt blog Sun, 01 Aug 2010 05:05:20 +0000 http://wordpress.org/?v=2.3.3 By: Britt http://thepennysaved.com/2007/03/29/roth-ira-basics/#comment-6297 Britt Wed, 20 May 2009 15:45:32 +0000 http://thepennysaved.com/2007/03/29/roth-ira-basics/#comment-6297 Excellent post. But the income limits and contribution limits have changed since this was originally posted. They are (in 2009) as follows… Upper Income Limits - $169,000 for married individuals who file a joint tax return. - $10,000 for married individuals who file a separate tax return and lived with their spouse at any time during the course of the tax year. - $116,000 for individuals who file as single, head of household, or married filing separately and did not live with their spouse at any time during the course of the tax year. Contribution Limits - Maximum of $5,000 if you’re under 50 - Maximum of $6,000 if you’re over 50 Excellent post. But the income limits and contribution limits have changed since this was originally posted. They are (in 2009) as follows…

Upper Income Limits

- $169,000 for married individuals who file a joint tax return.

- $10,000 for married individuals who file a separate tax return and lived with their spouse at any time during the course of the tax year.

- $116,000 for individuals who file as single, head of household, or married filing separately and did not live with their spouse at any time during the course of the tax year.

Contribution Limits

- Maximum of $5,000 if you’re under 50

- Maximum of $6,000 if you’re over 50

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