Can you make catch up contributions to a roth ira?

Answer Provided you are over age 50, you can make a "catch-up" contribution to your Roth IRA. For the years 2009 and 2010, the amount is $1,000 per year. This is in addition to the $5,000 regular contribu... Read More »

Top Q&A For: Can you make catch up contributions to a roth ira

Are Roth IRA contributions tax deductible?

Roth IRA contributions are not tax deductible. However, all of the money in a Roth IRA can be withdrawn tax-free, including the earnings, when you are 59 1/2 years old and the account has been open... Read More »

Can Roth Contributions Come out Tax-Free?

Contributions to a Roth IRA can be redeemed tax-free, provided the funds are "qualified distributions." Funds redeemed after age 59 1/2, used to purchase or rebuild a home, or for medical reasons a... Read More »

How to Withdraw Roth IRA Contributions?

A Roth IRA is an individual retirement account that differs from a traditional IRA by receiving a tax break on the money when it is withdrawn from the account, rather than when it is deposited. The... Read More »

How do I calculate excess Roth contributions?

Check the Tax LawVisit the IRS website and check the current year's tax law for the maximum Roth maximum contribution limits allowable for that tax year. In 2010, the IRS states that the maximum an... Read More »