The IRS Deductions Blog

Posts Tagged ‘non deductible contributions to ira’

Question: How much can we contribute, if any, to a deductible IRA?

Can we contribute to a deductible IRA and if so how much? So far we max out our contributions to Roth IRA’s every year. Also, my wife has about $8000 per year put into a 401k plan by her employer.

Answer: Here’s your chart for IRA contributions:

http://beginnersinvest.about.com/cs/iras/a/iracontribution.htm

You can have Roth AND traditional, but the TOTAL contribution is limited by law.

Items on Amazon Right Now for Deductible Contributions To Ira:

FINANCIAL CORNER – Time to Make New Year’s Financial Resolutions

Like many people, you may make some New Year’s resolutions. Perhaps you’ve promised yourself that you’ll visit the gym more often or learn a new language or reconnect with a long-lost friend. All of these are worthy goals, of course, and if you achieve them you may add new dimensions to your life.

Retirement Plans & Investments : Deductible Roth IRA Contributions