2007 Roth IRA Income Limits

Effect of Modified AGI on Roth IRA contributions in 2007:

A Roth IRA is a great vehicle to save for retirement, however, there are income limits that might affect your eligibility for a Roth IRA in 2007.

2007 Roth IRA income limits are:

IF you have taxable compensation and your filing status is..	AND your modified AGI is ...	Then...
married filing jointly or qualifying widow(er)	less than $156,000	you can contribute up to $4,000 ($5,000 if age 50 or older) for 2007
	at least $156,000 but less than $166,000	the amount you can contribute is reduced
	$166,000 or more	you cannot contribute to a Roth IRA. You have exceeded the 2007 Roth IRA income limits
married filing separately and you lived with your spouse at any time during the year	Zero	you can contribute up to $4,000 ($5,000 if age 50 or older) for 2007
	more than zero but less than $10,000	the amount you can contribute is reduced
	$10,000 or more	you cannot contribute to a Roth IRA. You have exceeded the 2007 Roth IRA income limits
single, head of household or married filing separately and you did not live with your spouse at any time during the year	less than $99,000	you can contribute up to $4,000 ($5,000 if age 50 or older) for 2007
	at least $99,000 but less than $114,000	the amount you can contribute is reduced
	$114,000 or more	you cannot contribute to a Roth IRA. You have exceeded the 2007 Roth IRA income limits

Source: IRS Forward this page

This website is intended to provide general information about 401k and IRA retirement plans. Nothing on this site should be considered legal, financial or tax advice. Please consult your tax or financial advisor for professional advice. While we strive to periodically update the information on this website, Rolloveraid.com makes no representation or warranties as to the accuracy, reliability, or completeness of any information on this site. Contact: info[at]rolloveraid.com