The following is printed from www.sitfunds.com
The following is printed from www.sitfunds.com
The deadline for Traditional and Roth IRA contributions is April 15, 2009. Contribution limits for 2008 are as follows:
| Under age 50 on 12/31/08 | 50 or over on 12/31/08 | |
| Traditional IRA* | $5,000 | $6,000 |
| Roth IRA** | $5,000 | $6,000 |
| SIMPLE IRA | $10,500 | $13,000 |
| SEP IRA | The lesser of 25% of income or $46,000. |
* You cannot contribute to a Traditional IRA in the year you turn age 70½.
** You cannot contribute this full amount to a Roth IRA if you are a single filer whose Modified Adjusted Gross Income (MAGI) exceeds $101,000 or a joint filer whose MAGI exceeds $159,000.
The deadline for Traditional and Roth IRA contributions is April 15, 2008. Contribution limits for 2007 are as follows:
| Under age 50 on 12/31/07 | 50 or over on 12/31/07 | |
| Traditional IRA* | $4,000 | $5,000 |
| Roth IRA** | $4,000 | $5,000 |
| SIMPLE IRA | $10,500 | $13,000 |
| SEP IRA | The lesser of 25% of income or $45,000. |
* You cannot contribute to a Traditional IRA in the year you turn age 70½.
** You cannot contribute this full amount to a Roth IRA if you are a single filer whose Modified Adjusted Gross Income (MAGI) exceeds $99,000 or a joint filer whose MAGI exceeds $156,000.
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