2007 – 2008 IRA Contribution Limits
Do You IRA? Maximize Your Retirement
Traditional and Roth Contribution Limits
Under age 50 Age 50 and over
2007+
$4,000 $5,000
2008
$5,000 $6,000
Phase Out for Roth Contribution Eligibility
Married, filing joint Single $156,000-$166,000 * $99,000-$114,000 * $0-$10,000 * $159,000-$169,000 * $101,000-$116,000 * $0-$10,000 *
Married, filing separately
Phase Out for Deducting Traditional Contribution
Married filing joint Single or head of household Married and One spouse is a participant in an Employer plan Married, filing separately $83,000-$103,000 * $52,000-$62,000 * $156,000-$166,000 * $0 - $10,000 $85,000-$105,000 * $53,000-$63,000 * $159,000-$169,000 * $0 - $10,000
+ Contributions are limited to the lesser of earned income or the amount stated above. *MAGI (Modified Adjusted Gross Income): AGI minus deductions and personal exemptions equals your taxable income.
For more information about IRA plans and investment products, call your investment professional, contact our customer service center at 800.888.0055, or go to wamuinvestments.com. Not all tax advantages may be available to you. Questions as they relate to your specific tax situation should be directed to your professional tax advisor.
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