Which Roth income limit do we use?
If i will make close to the income limit for 2014 for me to fully contribute to my roth,
BUT as a married couple, we do NOT reach our income limit combined (i.e. go over it),
can I as an individual still contribute to my roth if i somehow I really did go over my income limit?
Permalink Submitted by Alan - IRA critic on Thu, 2014-07-03 15:17
The income limit is determined by your tax filing status. The single MAGI limit only applies if you are single. If you are married there is an extremely low income limit if you file married/separate. For married filing jointly the MAGI phaseout range for 2014 is 181k to 191k and the income that goes on the joint return is used, ie both spouses incomes.
Permalink Submitted by Randy Aleman on Thu, 2014-07-03 21:47
That is what i thought, but I wanted to make absolutely sure. Thank you for your prompt response.