Roth Ira Contribution

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  • susieq
    Member
    • Feb 2006
    • 82
    #1

    Roth Ira Contribution

    Client will be 50 in August, 2006. IRA contribution must be made by due date of the return (not extended date). Is maximum allowable contribution for 2006 based on age during year ( 50 - $5,000.) or age at the time of the contribution? ( 49 - $4,000.)
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    • Unregistered
      #2
      IRA Contribution

      "For the year." I always interpreted that as age as of December 31 of the tax year.

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