What Are the Income Limits on a Roth IRA?

You can contribute to a Roth IRA if your adjusted gross income is below these limits:

	Full $3,000 contribution	Reduced contribution
Single/Head of household	Up to $95,000	$95,001-109,999
Married filing jointly	Up to $150,000	$150,001-$159,999

Limits in Future Years

The new tax law makes IRAs even more attractive. The maximum annual contribution limits for traditional and Roth IRAs increase according to the following schedule:

*Beginning in 2009, the contribution limit will adjust annually for inflation in $500 increments.

Effective in 2002, for persons age 50 and over, the law provides an increase in the contribution limits applicable to IRAs as follows:

• From 2002 through 2005: Additional catch-up contribution amount is $500
• From 2006 and forward: Additional catch-up contribution amount is $1,000

Note: in order to be eligible for the catch-up contribution limit increase, an individual must turn age 50 before the end of the tax year for which the contribution relates.

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