Roth IRA Max Contribution for 2008
I am researching this for my 23 year old daughter.
Is it scheduled to go up anytime in the near future?
TIA
SeattleSun
I am researching this for my 23 year old daughter.
Is it scheduled to go up anytime in the near future?
TIA
SeattleSun
Permalink Submitted by Alan Spross on Tue, 2008-07-01 02:47
In 2008 her Roth or TIRA max contribution rises to $5,000. For subsequent years a CPI increase factor applies on an August to August basis and in October the IRS will announce the permissible contribution for the following year. The adjustment must develop an increase of at least $500 to result in a change.
Permalink Submitted by Richard Rea on Wed, 2010-12-29 22:35
Can i assume that for 2011 the max contribution will be $5,000 for my now 26 year old daughters/
Since my SS has been flat for the last two years.
Can;t figure how to do a “new” post so adding to this one from 2008.
SeattleSun
Permalink Submitted by Alan Spross on Wed, 2010-12-29 23:24
That’s fine – yes, the 2011 Roth contribution max for those under 50 remains 5,000.