Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/8

Click to flip

8 Cards in this Set

  • Front
  • Back
What is the maximum dollar amount someone under age 50 can contribute to an IRA in 2006
$4000
What is the maximum dollar amound someone over age 50 can contribute to an IRA in 2006
5000
The Roth IRA phase-out limits for someone filing as single
$95,000-110,000
The Roth IRA phase-out limits for someone filling as married filing jointly.
$150,000-160,000
The Roth IRA phase-out limits for someone filing as married filing seperately and living with spouse
$0-10,000
What happens with your Roth IRA contribution if you are married and filing seperately and you do not life with your spouse
Your phaseout becomes the single taxpayers phaseout. $95,000-110,000
How long does a Roth IRA need to mature before you can recieve any distributions?
5 years
How much can you take out of your IRA for a first time home purchase?
$10,000