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Returning Member
posted May 17, 2020 1:07:26 AM

Contribution amount to IRA

At the completion of Turbotax Federal Review for 2019,  a message appears which states:   "You can still contribute up to $12,000 to an IRA"

 

Query:

Is $12,000 referring to individual or combined contribution for a married couple ?

How much can myself / my spouse each contribute to an IRA / Roth IRA for 2019 ?

 

My Filing Status " Married Filing Jointly"

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1 Replies
Level 15
May 17, 2020 5:14:04 AM

To contribute a total of $12,000, you would have to contribute the maximum permissible $6,000 to your IRA and your spouse would have to contribute the maximum permissible $6,000 to your spouse's IRA.