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Married filing jointly individuals can contribute up to $5,500 ($6,500 if over the age of 50) for the 2018 tax year as long as their modified adjusted gross income does not exceed the income limit.
The contributions for 2019 has increased to $6,000 ($7,000 if over the age of 50).
I have a provided a link that will assist you in determining the amount of contributions that can be made, and the formula that is used:
Married filing jointly individuals can contribute up to $5,500 ($6,500 if over the age of 50) for the 2018 tax year as long as their modified adjusted gross income does not exceed the income limit.
The contributions for 2019 has increased to $6,000 ($7,000 if over the age of 50).
I have a provided a link that will assist you in determining the amount of contributions that can be made, and the formula that is used:
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