djclark
Dec 28 2000, 04:52 PM
I am married and will file a joint return. We both have income of approximately $50,000. Can we both set up a Roth IRA and each contribute $2,000 to the Roth IRA?
Michael Devault
Dec 28 2000, 05:20 PM
Yes, you can, just as long as your modified Adjusted Gross Income is less than $150,000. You might want to download Publication 590 from the IRS' website. There's lots of information on Roth IRAs in this publication on pages 36-43.
Happy New Year!