2001 Roth Contributions

[Guest Sky]

My accoutant says I made to much money to contribute to mime and my wifes roth ira's but he only has "gross income' figures.

I was trying to research "rothira.com" but couldn't find anything specific as to whether the the formula is based on "gross" or adjusted gross, agi" for the prupose of making contributions. I have large business loss that I feel will lower my personal income several thousand dollars so I need to find out what the cutoff is?

[Guest benji]

It is based on your AGI! Subject to Income based phaseouts:

$95,000 to $110,000 (Unmarried)

$150,000 to $160,000 (Married-Joint)

$0 to $10,000 (Married-seperate)

Hope this helps!