What are the contribution limits for a Roth IRA? For the 2009 tax year, individuals can make maximum annual contributions equal to the dollar amounts which follow. These contribution limits vary depending on the current income and age of the Roth IRA account holder.

Since the IRS doesn’t impose age limits on who can have and maintain a Roth IRA account, the only variable effecting your eligibility is your dollar amount of your taxable earned income. This is also known as your Modified Adjusted Gross Income (MAGI).

Roth IRA Contribution Income Limits

The amount you can or can not contribute to a Roth IRA is totally dependent on the amount of earned income you have.

Below is a list of the income limits and contribution guidelines for a Roth IRA account:

a) $169,000 is the cut-off for making a Roth IRA contribution if you’re married and file a joint tax return.

b) $10,000 is the cut-off for making a Roth IRA contribution if you’re married and file a separate tax return but lived with your spouse at any time during the course of the tax year.

c) $116,000 is the cut-off for making a Roth IRA contribution if you’re filing as one of the following: 
1) Single 
2) Head of household 
3) Married filing separately but did NOT live with your spouse at any time during the course of the tax year.

Unfortunately, if your modified adjusted gross income is higher than these maximum thresholds, you can NOT contribute to your Roth IRA…

For a more detailed look at what you can contribute, read the information below which matches your IRS filing status.

Married Filing Jointly

If married filing jointly is your IRS tax filing status, you can contribute a maximum of…

• $5,000 as long as you’re under 50 and your earned income is $159,000 or less 
• $6,000 as long as you’re over 50 and your earned income is $159,000 or less 
• $0 no matter your age if your earned income is $169,000 or more

If your modified adjusted gross income is between $159,000 and $169,000, your maximum contribution amount is gradually phased out to zero.

In such a case, you need to consult with an accountant to determine the exact amount you’re able to contribute.

Single, Head of Household, or Married Filing Separately

If single, head of household, or married filing separately is your IRS tax filing status, you can contribute a maximum of…

• $5,000 as long as you’re under 50 and your earned income is $101,000 or less 
• $6,000 as long as you’re over 50 and your earned income is $101,000 or less 
• $0 no matter your age if your earned income is $116,000 or more

If your modified adjusted gross income is between $101,000 and $116,000, your maximum contribution amount is gradually phased out to zero.

In such a case, you need to consult with an accountant to determine the exact amount you can contribute.

Married Filing Separately

If married filing separately is your IRS filing status, and…

You lived with your spouse at any time during the course of the year, you can contribute a maximum of…

• $5,000 as long as you’re under 50 and your earned income is $0 
• $6,000 as long as you’re over 50 and your earned income is $0 
• $0 no matter your age if your earned income is $10,000 or more

If your modified adjusted gross income is between $1 and $10,000, your maximum contribution amount is gradually phased out to zero.

In such a case, you need to consult with an accountant to determine the exact amount you can contribute.

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