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

 
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‎June 4, 2019 3:06 PM
last updated ‎June 04, 2019 3:06 PM
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DoninGA
Level 15
Level 15

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

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...

‎June 4, 2019 3:06 PM
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mark5602
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What is the maximum IRA contribution for over age 50 for those who do not have any other form of Retirement Savings?

WRONG over 50 years old max. contribution 7000.

 

‎February 22, 2021 2:07 PM
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