Individual Retirement Accounts » Roth IRAs

2008 Contribution Limits

The maximum allowable contribution is the lesser of 100% of compensation or $5,000 (or $6,000 if aged 50+) per individual.

NOTE: Contributions to a Roth IRA are coordinated with contributions made to a Traditional IRA in that they cannot exceed the maximum of $5,000 limit ($5,000 per individual for Married Filing Jointly, and $6,000 if over age 50) on an aggregated basis.

Contributions to a Roth IRA depend primarily on AGI. For a single filer, modified AGI cannot exceed $110,000 and, if married filing jointly, modified AGI cannot exceed $160,000. For those married filing separately, contributions can only be made if modified AGI is less than $10,000.