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View Full Version : Roth Limits


Delph1210
Feb 13, 2011, 04:01 PM
I earned $60,000 last year,my wife $2,100.
I have already contributed $2,500 into each, of our Roth accounts for 2010.
Did I exceed the limit on my wife's account, since it's more than she earned ?
If so, how do I undo this msitake ?

Thanks, Steve

ebaines
Feb 14, 2011, 10:58 AM
No problem - as long as you file jointly you are each able to contribute up to $5K to your IRAs (or $6K if you are age 50 or older) as long as the total of both your contributions does not exceed the total of your earned incomes.