Regular IRA Maximum Contribution for 2009

$5,000 into a REGULAR IRA is the max for a single individual UNDER age 50 who does not participate in an employer sponsored retirement plan and still receive a tax deduction.  Add $1,000 if over age 50.

 

Can contribute till April 15th, 2010 for 2009.  Can file your tax return WITH the Regular IRA as if it has already been made, then use the refund to make the actual REGULAR IRA contribution as long as you do it before April 15, 2010.

 

The deductible amount if you or your spouse participate in an employer plan may be reduced depending on your Adjusted Gross Income.  Contact us if you need more details at www.USATaxHelp.com

 

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