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We are retired- my wife earned $ 12618.00. Hoe much can each of us contribute to out Roth accounts?
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If you are retired and your total combined compensation was $12,618.00, you can each contribute $5,500 to a ROTH IRA if you are Filing Jointly and your Adjusted Gross Income is below $186,000. If age 50 or older, you and/or your spouse would be able to contribute an extra $1,000. However, the maximum contribution between the both of you will be $12,618.00, the total earned compensation.
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