Below are the income restrictions for 2012 Roth IRA contributions:
• Roth IRAs are fully available to single filers whose adjusted gross income (AGI) is less than $110,000. No participation is allowed if your AGI is more than $125,000. Thus, the phase-out range, where contributions are limited in gradual steps as income increases, is between $110,000 and $125,000.
• Roth IRAs are fully available to joint filers whose AGI is less than $173,000. There is a phase-out range between $173,000 and $183,000. Married couples cannot contribute to a Roth IRA if their AGI is more than $183,000.
We would like your feedback on this Personal Finance Frequently Asked Question.
