|
ROTH-IRA
Phase-Out Range for Contribution
|
|
Single
or |
|
|
|
Head
of Household |
Married-Joint |
Married
filing Separate |
|
AGI |
AGI |
AGI |
| 1998-2006 |
$95,000
- $110,000 |
$150,000
- $160,000 |
$
0 - $10,000 |
| 2007 |
$99,000
- $114,000 |
$156,000
- $166,000 |
$
0 - $10,000 |
Beginning 2007 Income limits will be indexed for cost of living adjustments (COLA)
|
Full
ROTH-IRA contribution if your AGI
is less than the range (i.e., $95,000 single).
Reduced ROTH-IRA contribution
if AGI is within range (proportionately).
No ROTH-IRA contribution
allowed if AGI is greater than the range.
|
| Maximum
contribution in 2006 & 2007 for either an IRA
(non-deductible or deductible) or ROTH-IRA is $4,000 plus
$1000 age 50 catch-up.
You can't do maximum for both, but you can do some
of each up to a total
of $4,000 plus $1000. |
|
|
