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Level 1
June 4, 2019
Question

What is the maximum IRA contribution for over age 50 for those who do not have any other form of Retirement Savings?

  • June 4, 2019
  • 1 reply
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1 reply

DoninGA
Level 15
Level 15
June 4, 2019

The age over 50 amount for an IRA contribution is $6,500 or your total taxable compensation if less than $6,500.  See this IRS website - https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-li...

Level 2
February 22, 2021

WRONG over 50 years old max. contribution 7000.