BigAl
May 22 2002, 11:21 AM
When you and your spouse contribute to a Roth, is there any tax forms that must reflect the contributions, such as on 1040 or 8606? Also, provided that income limits are satifactory, what is the maximum amount a husband and wife can contribute to a Roth, if both are 57 years old?
papogi
May 22 2002, 11:40 AM
Roth contributions do not need to be shown on any tax forms. Since you both are over 50, each can contribute $3500 for tax year 2002.