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Roth IRA: How Much Can You Contribute in 2010?

If you are married, and both you and your spouse plan to contribute to Roth IRAs, determine your allowable contribution amounts separately. If you are using this worksheet, complete it once for you and once for your spouse.

The way that you calculate your allowable contribution depends on your income tax filing status for the year of the contribution:

  • Single or head of household (RT10-05-D06B10)
  • Married filing jointly or qualifying widow(er) (RT10-05-D06D10)
  • Married filing separately (RT10-05-D06F10)

Caution: If you are married, did not live with your spouse at any time during the year, and file separate returns, you are considered single for purposes of determining your allowable contribution to a Roth IRA.

Quick Summary

Your ability to contribute to a Roth IRA depends in part on the amount of taxable compensation that you (and, in some cases, your spouse) received for the year. In addition, your ability to contribute to a Roth IRA may be limited (or phased out entirely) if your modified adjusted gross income (MAGI) for the year is too high.

If your federal income tax filing status is: Your ability to contribute to a Roth IRA is limited if your MAGI is between: You cannot contribute to a Roth IRA if your MAGI is:
Single or head of household $105,000 - $120,000 $120,000 or more
Married filing jointly or qualifying widow(er) $167,000 - $177,000 $177,000 or more
Married filing separately $0 - $10,000 $10,000 or more

Note: Contributions to a Roth IRA are never tax deductible on your federal income tax return. However, certain low- and middle-income taxpayers can claim a partial income tax credit for amounts contributed to an IRA (Roth or traditional).

Note: Taxpayers age 50 and older can make an additional "catch-up" contribution to an IRA (Roth or traditional), over and above the general IRA contribution limit. The annual catch-up contribution amount is $1,000 for 2010.

Note: Special rules may apply to qualified individuals impacted by certain natural disasters, certain former Enron employees, certain employees of bankrupt airlines, taxpayers who receive certain Exxon Valdez settlement payments, and certain reservists and national guardsmen called to active duty after Spetember 11, 2001