Comments on: Roth IRA Contribution Limits: How the ‘Phaseout’ Works

By: David Smith

David Smith — Sun, 13 Sep 2009 01:47:12 +0000

I was checking your website for Income Limits on Roth IRA Accounts. I discovered that in 2006, the Income Limits were phased between $150-160K. My 2006 joint return had a MAGI of $166,908. I made the maximum contributions to my accounts early that year (in Jan 2006). I received a promotion late in the year which pushed me over the income limit. Do I need to report this mistake to the IRS and, if so, what is my liability for this error?

By: fivecentReader

fivecentReader — Sun, 04 Feb 2007 22:51:02 +0000

Good article on the basics, but including precalculated phase out tables would have been nice. I’ve been googling all over the web for the past hour and can’t find anything.

By: Karen

Karen — Mon, 08 Jan 2007 20:54:20 +0000

Thanks for the info. It helps alot, but I need to know if AGI is 155,000 can husband AND wife take $2000 each, or is it $2000 total?

By: 3 things about money

3 things about money — Tue, 14 Nov 2006 11:17:47 +0000

Thanks! This is a really useful post. I am “within the range” and I could not for the life of me figure out what my maximum contribution is…thanks.