Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Next year my wife and I may surpass the income limit for Roth contributions. Because of the type of investing I do, I much prefer funding IRA's than using my non-matching employer's 403(b).

I could not find it in the FAQ. What, if any, income limits are there for making non-deductible contributions to a traditional IRA? Is it still a limit of $2000/year per person? I am also considering this as an alternative to a UTMA account with twins due in January - an alternative for college and (maybe) help for a first time home purchase for them. I have a large UTMA for my 3-year old daughter and have concerns about my kids having access to such a potentially large account when they turn 18.

Thanks in advance,
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.