This article will cover the ‘Roth IRA contribution limits 2011‘, which you need to stay up to date with since the federal government changes regulations on Roth IRA contribution limits for both Traditional IRAs and Roth IRAs every year. 

Roth IRA Contribution Limits 2011

As with every other year the Traditional and Roth IRA contribution limits are set by looking at 3 main factors: Age, Familial Status, and Taxable Income**.  The Roth IRA Rules 2011 article will give you a brief overview of why these matter.

**Please note that your taxable income (sometimes referred to as your modified adjusted gross income) can be found using your 1040A tax form, which takes into account deductions and expenses

Roth IRA Contribution Limits 2011 – Maximum Contribution

Please note that in each section, this is the absolute maximum you can contribute, but the actual maximum may be less depending on the other 2 factors; the chart at the end will help you combine all the factors to determine your true Roth IRA maximum contribution.

Another important property of your maximum contribution limits is that this is the maximum limit combined for both your Traditional and Roth IRAs if you have both.  So if your maximum contribution is $6,000, you can only contribute a total of $6,000 between the two IRAs.

Finally, no matter what your contribution limit is, your contribution must come from your taxable income.  So even if your limit is $6,000, if you only made $3,000 during the year you can only contribute up to $3,000.

Roth IRA Contribution Limits 2011 Factor 1 : Age

There are two main categories for age that you can fall into, for your Roth IRA contribution limits in 2011, these are: Under 50, Over 50.

Under 50: If you are under 50, you are slightly more limited as to how much you can contribute.  Your Roth IRA Maximum Contribution is $5,000.00.

Over 50: If you are over 50, you are given an extra cushion so that you can ‘catch-up’ if needed.  Your Roth IRA Maximum Contribution is $6,000.00.

Roth IRA Contribution Limits 2011 Factor 2 : Taxable Income

Your Taxable income affects your Roth IRA contribution eligibility depending on what bracket you fall into.

Under $107,000: If you fall into this bracket you can contribute the maximum depending on your familial status.

In-between $107,000 – $122,000: If you make this amount, you will only be able to contribute a reduced amount.

Over $122,000: You will not be able to contribute to your Roth IRA; at this point you should look into other types of retirement plans.

Roth IRA Contribution Limits 2011 Factor 3 : Familial Status

There are 3(4) ways you can file as which affect your maximum contribution limits.

Single or Head of Household:  There are no restrictions based on your familial status, your maximum Roth IRA contribution will be decided by the other 2 factors.

Married filing jointly:  If you file this way, you will need to add your 2 taxable incomes together.  Once you have done this your Roth IRA maximum contribution amount will be decided based on your combined taxable income in the following manner:

Under $169,000: Maximum contribution allowed

In-between $169,000 – $179,000: Reduced contribution

Over $179,000: No Contribution Allowed

Married filing separately: If you file separately, it will depend on one crucial factor, which is whether or not you have lived with your spouse at all during the year.  If you did not live with each other during the year, you are treated the same as a ‘single’.  If you did live with your spouse sometime during the year the following restrictions apply:

$0: Maximum contribution allowed

In-between $0 – $10,000: Reduced contribution

Over $10,000: No Contribution Allowed

As far as the reduced contribution amounts go, this article would be extremely long to cover all the specific cases, if you have a specific question please leave a comment below and I will get back to you with an answer.  Otherwise, please continue your query using the IRS Publication 590.

Roth IRA Contribution Limits 2011 Table Summary

**Note the ( ) bracketed amounts of taxable income are for joint filings. [ ] brackets indicate income when married filing separately (If you never lived together refer to the Single row)

Reminder: Your Roth IRA maximum contribution is $5,000 if under 50, $6,000 if over 50.

Taxable Income:	Under $107,000 ($169,000)             [$0]	$107,000 – $122,000 ($169,000 – $179,000) [$0 - $10,000]	Over $122,000 ($179,000)     [$10,000]
Single/ Head of Household	Maximum Contribution	Reduced Limit	Cannot Contribute
Married filing jointly	Maximum Contribution	Reduced Limit	Cannot Contribute
Married filing separately(lived together at some point)	Maximum Contribution	Reduced Limit	Cannot Contribute

Roth IRA Contribution Limits 2011 Summary

This is all the information you need to know about the Roth IRA contribution limits 2011, with your age, filing status, and modified gross adjusted income, you should be able to determine your maximum contributions; for next years article please refer to our up to date article: Roth IRA Contribution Limits 2012.