Question : If I have a retirement plan at work , can I stil contribute to a roth ira -?
I file married filing jointly - what is the income cut off for donating to a roth? Husband is self- employed and no retirement plan - he puts his in a traditional ira - what is his cut off
- asked by Cindy W
All Answers:
Answer #1
You can still contribute $4000 to a Roth IRA($5000 if over age 50) if your modified AGI isunder $156,000.Your husband can also contribute$4000 to a traditional IRA ($5000 if over age 50)and take a full deduction if your modified AGI isunder $156,000.Phaseout provisions apply over thisamount. (See worksheet 17-2 in IRS Publication 17to compute your "Modified AGI".)
- answered by Richard M
Answer #2
Yes, you can. You can contribute up to 4k a year,but there is income limits.
- answered by Babycakes
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