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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75381  
Subject: Re: Help! Stuck on starting IRA!! Date: 7/26/2000 3:48 PM
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Greetings, WriterStitcher, and welcome. You wrote:

>> You cannot contribute anything to a Roth IRA if
>> your AGI is over $10,000.

This doesn't sound right. Shouldn't that be $100,000?>>


In the context of the original query from a writer who was married but who filed a separate return from his spouse, that answer is absolutely correct. Those who file separate returns while married are limited to an AGI of less than $10K to make a partial contribution to a Roth. (Nore: The phaseout range is $0 to $10K on a married filing separate return.)

The only way around that is to have NOT been living with the spouse for the ENTIRE tax year. In that case, the phaseout range is the same as that for a single filer ($95K to $110K). Otherwise, the couple must file a joint reurn. If they do that, then the AGI limit becomes $150K with the phase out at $160K on the joint return.

Regards..Pixy
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