A:



Visit the Congressional Budget Office's Online Tax Guide, which summarizes IRA contribution limits and phase-out ranges for every year from 1974 onwards.

You may also want to ensure that you file Form 8606 for any year in which you made non-deductible contributions to your Traditional IRA.

For further reading, check out Correcting Ineligible (Excess) IRA Contributions - Part 1 and Part 2.



This question was answered by Denise Appleby
(
Contact Denise)



Hot Definitions
  1. Price Elasticity Of Demand

    A measure of the relationship between a change in the quantity demanded of a particular good and a change in its price. Price ...
  2. Market Capitalization

    The total dollar market value of all of a company's outstanding shares. Market capitalization is calculated by multiplying ...
  3. Frexit

    Frexit – short for "French exit" – is a French spinoff of the term Brexit, which emerged when the United Kingdom voted to ...
  4. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  5. Down Round

    A round of financing where investors purchase stock from a company at a lower valuation than the valuation placed upon the ...
  6. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
Trading Center