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Message
re: 2015 Roth Contributions
Posted on 1/4/15 at 7:41 pm to NewIberiaHaircut
Posted on 1/4/15 at 7:41 pm to NewIberiaHaircut
quote:
For singles and heads of household, the income phase-out range is $116,000 to $131,000, up from $114,000 to $129,000.
Can you explain what this means? I thought I knew everything I needed to know about IRAs but I'm obviously missing this crucial piece of information.
1
Posted on 1/4/15 at 7:49 pm to Powerman
If you make less than 116k, you can contribute the entire 5500 amount. Any higher salary and the contribution is lower. Salary above 131k and you can't contribute to roth
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