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