IRA Beneficiary
37. Can You Make Contributions?
There are still restrictions on who can contribute to a Roth IRA.
The maximum you can currently contribute is $5,000 per year, unless you are over age 50 - in which case you are allowed to contribute up to $6,000 under a special make-up provision.
To be able to contribute the full amount, you must be a single or head of household taxpayer with up to $107,000 adjusted gross income, or be a married, filing jointly taxpayer or qualifying widow(er) with up to $169,000 AGI.*
Smaller contributions are allowed for single or head of household taxpayers with $107,000 to $122,000 AGI and for married couples with $169,000 to $179,000 AGI.
* NOTE: There are special rules for married couples filing separately. If you did not live with your spouse at any time during the year and you file a separate return, your filing status for this purpose is single. If you did live with your spouse at any time during the year, you are not eligible to convert an existing IRA to a Roth IRA, and if your AGI is more than $10,000, you cannot contribute to a Roth IRA.