Regular Roth IRA. The maximum contribution that can be made to an indxxxxxxx's regular Roth IRA for any calendar year is the lesser of (i) $2,000 or (xx) xxe compensation the individual earns for the year. If you are married and file a joint federal income tax return, each of you may establish your own regular Roth IRA. The maximum amount the higher compensated spouse max xxxxxxbute for the year is the lesser of $2,000 or 100% of that spouse's compensation, and the maximum amount the lower compensated spouse may contribute is the lesser of $2,000 or 100% of that spouse's compensation plus the amount by which the higher compensated spouse's compensation exceeds the amount the higher compensated spouse contributes to his or her Roth IRA (even if one spouse has no compensation). If you are xxxxxxxd, all taxable alimony you receive under a decree of divorce or separate maintenance will be treated as compensation. However, the maximum annual contribution amount will be phased out if the individual is single and has an adjusted gross income between $95,000 and $110,000, is married filing a joint return and has an adjusted gross income between $150,000 and $160,000, or is married filing separately and has an adjusted gross income between $0 and $10,000. No amount you contribute to a Roth IRA will be deductible for federal income tax purposes. Xxx xxxxmum annual amount you may contribute to a Roth IRA must be reduced by any amount you contribute to an IXX xxxxxlished under Code Section 408 (a "traditional IRA") xx to any other Roth IRA for that year.
