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ARTICLE · 12 APRIL 2016

Roth IRA Contribution Limit

Brown Smith Wallace
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Individuals may contribute up to $5,500 to a traditional and a Roth IRA for 2016. This is the same limit as 2015.

United StatesTax
Allison L. Jasper, CPA
Allison L. Jasper, CPA
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Individuals may contribute up to $5,500 to a traditional and a Roth IRA for 2016. This is the same limit as 2015. An individual age 50 and older can made a catch-up contribution of an additional $1,000 for the year. The contribution is limited to the taxpayer's taxable compensation for the year, minus contributions to all non-Roth IRAs.

Taxpayers can contribute to a Roth IRA as long as the taxpayer's adjusted gross income for the year is less than:

  • $193,000 for married filing jointly or qualifying widow(er),
  • $131,000 for single, head of household, or married filing separately and you did not live with your spouse at any time during the year, and
  • $10,000 for married filing separately and you lived with your spouse at any time during the year.

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