What are 2010 Traditional IRA & Roth IRA Contribution Limits?
For those of you planning ahead, here are the IRA contribution limits for 2010. Contribution limits have been indexed to inflation since 2008, and can increase in $500 increments (as necessary).
Because inflation has been so low, however, there’s not much new under the sun. The IRA contribution limits will be staying the same in 2010 as they were in 2008/2009. What follows is a table of contributions limits dating back to 2002, and running through next year.
| Year | Under Age 50 | Age 50+ |
| 2002-2004 | $3,000/year | $3,500/year |
| 2005 | $4,000/year | $4,500/year |
| 2006-2007 | $4,000/year | $5,000/year |
| 2008 | $5,000/year | $6,000/year |
| 2009 | $5,000/year | $6,000/year |
| 2010 | $5,000/year | $6,000/year |
Remember, you can make your 2009 contributions all the way up until April 15th 2010. As for your 2010 contributions, you can start immediately on January 1st, with a deadline of April 15, 2011.
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Reasonable efforts are made to maintain accurate information. See the Discover online credit card application for full terms and conditions on offers and rewards.
Modified on May 25th, 2010 - 2 Comments
Filed under: Saving & Investing, Taxes
About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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2 Responses to “What are 2010 Traditional IRA & Roth IRA Contribution Limits?”
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December 31st, 2009 at 5:36 am
Thanks for giving us this chart of contributions.
John DeFlumeri Jr
March 5th, 2011 at 6:59 pm
Hello:
I’m wondering about IRA contribution limits.
I’m married filing jointly. My wife does not work. We’re both 54 years old.
I have a retirement plan at work (a 403c).
My income before an ira deduction is $99,774.83.
Can I submit $6,000 each for my wife and me?