Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Roth IRA ideas -- Ignore unavailable to you. Want to Upgrade?

To: Fred Fraschetti who wrote (79)	3/16/1998 8:54:00 PM
From: Joe Basile	Read Replies (1) \| Respond to of 388

You may want to consult your accountant on that question. According to my wife, the $110,000 applies to a married couple. Joe

To: Fred Fraschetti who wrote (79)	3/18/1998 11:32:00 AM
From: Howard R. Hansen	Respond to of 388

You may contribute any amount up to 100 percent of your earned income of $2000, whichever is less, to a Roth IRA as long as your modified adjusted gross income, MAGI is less $95,000 for single filers and $150,000 for joint filers. Above $95,000 for single filers and $150,000 for joint filers the amount you can contribute to a Roth IRA starts to phase out. You can not make a contribution to a Roth IRA if your MAGI is greater than $110,000 for single filers and $160,000 for joint filers. Your MAGI is the amount shown on line 32 on your 1040 return minus certain adjustments. The adjustments were listed in an earlier post to this thread. One of these is the amount you roll over from a regular IRA to a Roth IRA. This information comes from an information sheet from Bankers System, Inc. St Cloud MN.