Roth IRA, Traditional IRA, 401K » married

How much I am allowed to contribute to my ROTH IRA as a married couple?

admin — Mon, 18 Apr 2011 22:25:12 +0000

Question by Cindy16: How much I am allowed to contribute to my ROTH IRA as a married couple?
My husband and I currently have one ROTH IRA under my name.
I also have 401k at my job, and he has his 401 at his job.
I am wondering could he also contribute to an ROTH IRA?
If so, what is the limits for him?

Best answer:

Answer by Scout
Depending on your age. If you are over 50, then you can contribute $ 6000 each as long as you have made at least $ 12,0000 in income. If you are under 50, then the max is $ 5,000 each.

Now if you make more than 166,000 as a couple, then those limits are less.

If you do make over $ 166,000 then I would make a trad ira contr and then convert to a roth.

If you do make over $ 166,000 I would always talk with a tax advisor on anything that you do, especially when it comes to roths.

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