IRA Beneficiary

Estate Planning > Presentation Topics > IRA Beneficiary

 
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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.

 

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