Typically there are small changes every year in regards to the factors that determine your contribution limits, they will be addressed in this article : Roth IRA Contribution Limits 2012. Your contribution limits have changes that are a reflection of the current economic market which factors in many dynamic variables such as inflation. The maximum contribution will remain the same. The changes usually affect the income ranges that influence your eligibility to make your Roth IRA maximum contribution so it is important to learn about the changes.
If you are looking for current information as of 2011, please refer to our detailed article that will help you determine your Roth IRA contribution limits – 2011.
Roth IRA Contribution Limits 2012
The IRS releases the information pertaining to the 2012 Roth IRA contribution limits, but these updates can be confusing to many people because of the high amount of bureaucratic jargon. However, as soon as they are released we will update this article with detailed information about what the new contribution limits are and how you are affected by them in clear concise steps.
Roth IRA Contribution Limits 2012 Update
As of: January 1st 2012 The IRS has announced official changes for 2012 Roth IRA Contribution Limits. The changes announced were in regards to the income limits in 2012, below they are summarized:
- If a married couples’ joint MAGI is below $173,000 in 2012 there are no restrictions to their contributions. If the MAGI is between $173,000 and $183,000 they can contribute a reduced amount, and finally if it is over $183,000 no contributions are allowed
- There are also changes for people filing as single or head of household, where both the lower and upper bounds have been increased from 2011. In 2012, the cut-off is $125,000 where you are no longer allowed to contribute if your MAGI is larger than that, and there are no restrictions if you make less than $110,000. In-between this amount and you can only contribute a reduced amounts.
- For someone filing married but separated, the limits have not changed, if you make any more than $10,000 you are not allowed to contribute to your Roth IRA.
These are the official Roth IRA Contribution Limits 2012 at this point, it is very unlikely that any more changes will occur, but if they do they will be updated on this page. For more information about your Roth IRA contribution limits visit our homepage.