how much money can you put in a ira
If you're 50 or over before the end of the year, you're allowed to contribute up to an additional $1,000 for a total yearly contribution of $6,000; this is the IRS's way of encouraging you to save more in the final years before retirement. However, the amount you can contribute to a Roth IRA also depends on your income.To make the full contribution, your modified adjusted gross income must be less than $125,000 if you're single, or $183,000 as a married couple filing jointly.f you're 50 or over before the end of the year, you're allowed to contribute up to an additional $1,000 for a total yearly contribution of $6,000; this is the IRS's way of encouraging you to save more in the final years before retirement. However, the amount you can contribute to a Roth IRA also depends on your income.