IRA Beneficiary
37. Can You Make Contributions?
You may also qualify to set up a new Roth IRA account.
The maximum you can currently contribute is $5,000 per year, unless you are over age 50, in which case you are allowed to contribute up to $6,000 under a special make-up provision.
To be able to contribute the full amount, you must be a single or head of household taxpayer with up to $101,000 adjusted gross income, or be a married, filing jointly taxpayer or qualifying widow(er) with up to $159,000 AGI.
Smaller contributions are allowed for single or head of household taxpayers with $101,000 to $116,000 AGI and for married couples with $159,000 to $169,000 AGI.
If your AGI is over these limits, you are not eligible for a Roth IRA.