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Just when I thought I was starting to understand...
I've been reading about IRA and playing with the "calculators". I'm confused about the ROTH IRA and a regular IRA. Specifically regarding gross income. I have been contributing (not through work) to an IRA for about a year now. At the present moment I am "jobless" but within a month or so that will change and then our gross income should jump to about $125,000. We file jointly and now I'm wondering if I should have a ROTH instead. I thought I read that if you file jointly you can't have more than $50k gross to have an regular IRA. Help!

Also, can a permanent resident alien (who has a business in the U.S.) have an IRA?

Funny, these boards provide such a wonderful place to ask questions that I would feel silly asking otherwise.
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