Traditional & Roth Contirbutions Clarification
Assumptions: Married Clients are under the income limits to fully contribute and both are under age 50 :
Can a married couple contribute the full amounts to “both” Traditional IRA AND ROTH IRA for a total of $26,000.00 ($6500 x2 for the Traditionals & $6500 x 2 for the Roth’s)? OR
Is it simply an aggregate of $13,000 regardless of the combination?
Permalink Submitted by David Mertz on Wed, 2023-03-29 16:30
Assuming sufficient compensation to support the contributions, each individual can contribute no more than $6,500 for 2023 to traditional and Roth IRAs combined.