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Roth IRA Contribution Rules: The Comprehensive Guide

Source: - Jan 23, 2021

Roth IRA Contribution Limits

Anyone of any age can contribute to a Roth IRA, but the annual contribution cannot exceed their earned income. Let’s say that Henry and Henrietta, a married couple filing jointly, have a combined MAGI of $175,000. Both earn $87,500 a year, and both have Roth IRAs. In 2021, they can each contribute the maximum of $6,000 to their accounts, for a total of $12,000. 

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Category: General Business