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Are there any eligibility factors on annual Roth IRA contributions?

April 26, 2017annual contributions eligibility factors roth ira

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Are there any eligibility factors on annual Roth IRA contributions?

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Your Modified Adjusted Gross income and filing status is used to determine eligibility to contribute to a Roth IRA. The Modified Adjusted Gross Income (MAGI) Eligibility Requirements for 2009: • Single filers: Up to $105,000 (to qualify for a full contribution); $105,000-$120,000 (to be eligible for a partial contribution), and • Married, Joint filers: Up to $166,000 (to qualify for a full contribution); $166,000-$176,000 (to be eligible for a partial contribution) You are unable to contribute to a Roth IRA if you are Married Filing Separately filing status on your income tax or your income is more then $100,000.