I have a regular ira...can I start
roth era at this time.....I am over 70 years
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You can make contributions after you reach age 70 1/2, however, you must still receive compensation. There is an exception that allows Roth accounts for nonworking spouses. If you and your spouse file a joint return but one does not work, the employed spouse can open and contribute to a Roth IRA for the unemployed partner.
The maximum amount you can contribute to all IRAs must be the lesser of these:
However, to figure the maximum amount you can contribute to a Roth IRA for a year, you must combine the contributions you made to all IRAs. This includes both traditional and Roth IRAs. So, your contribution limit is the lesser of:
When figuring your contribution limit, don’t subtract employer contributions under a SEP or SIMPLE IRA plan.
The amount you can contribute to a Roth IRA:
Married couples filing separately can’t make Roth IRA contributions if both of these are true:
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