Thread: IRA or Roth IRA
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Old 09-01-2004, 10:34 PM
terry1156 terry1156 is offline
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Default Re: IRA or Roth IRA
It is the Gross Adjusted Income that matters:

For a regular IRA account, the phase out earnings is $65,000 - $75,000. If you make above $75,000, your entire contribution is nondeductible.


For the Roth IRA, the following limits apply.

Single $95,000
Married filing jointly $150,000
Married filing separately, living apart for entire year $95,000

With these in mind, a Roth IRA is your best option.
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