Ask Experts Questions for FREE Help !
Ask
    dlochart's Avatar
    dlochart Posts: 65, Reputation: 1
    Junior Member
    		  
    #1

    Jan 15, 2010, 09:25 PM
    Roth IRA Contribution
    If you have a Roth IRA and have been contributing to it for a few years and then one year you get _lots_ of overtime and your wife starts to work and combined you make more than the maximum, are you then not allowed to contribute to it? Or is it that you cannot start a Roth if you exceed the maximum allowed salary.

    I find this odd that you can own something but cannot contribute to it.

    Thanks!
    dlochart's Avatar
    dlochart Posts: 65, Reputation: 1
    Junior Member
    		  
    #2

    Jan 16, 2010, 07:22 AM

    I see I placed this in the wrong forum. Sorry
    emilly58's Avatar
    emilly58 Posts: 2, Reputation: 1
    New Member
    		  
    #3

    Jan 16, 2010, 12:19 PM
    dlochart

    This may help you:

    http://www.rothirarules.net/roth-ira-contribution-limits.htm
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Cashing out part of IRA or ROTH IRA due to Hardship [ 1 Answers ]

Can you tell me what are the reasons that you can claim hardship on an IRA or ROTH IRA? I have been unemployed for over a year and need to cashing some of my IRA to just pay bills and live. Are there penalties and taxes that need to be paid on this money? Thanks,

Should I/how to convert IRA-BDA to a Roth IRA [ 0 Answers ]

A few years ago I inherited an IRA. It's now referred to as an IRA-BDA. It is all one mutual fund. As it stands now, when I withdraw from it I have the option of taking out 10-15% taxes on the amount withdrawn, or waiting until tax time to pay it. 1.Would it be more beneficial to change my...

Credit for Roth IRA contribution [ 6 Answers ]

My spouse and I are filing tax return jointly this year. Our AGI does not exceed $50,000. And we both made contribution to Roth IRA this year, $4,000 each. However, he is a full-time student. Can we take credit for the roth ira. I know he cannot. But the question if I can take credit just for my...

Minimum monthly roth ira contribution? [ 1 Answers ]

For most roth ira plans, is there a minimum amount of $$ I need to contribute per month? Or can I put in as little each month as I want?

View more questions Search