In 2005, the maximum Roth IRA contribution is $3,000 per person. My wife and I each have a Roth IRA, and we file jointly. Can I contribution $6,000 to her Roth IRA, if I don't contribute any to mine? I'm guessing the answer is no, and I would have to put $3K into my Roth and another $3K into hers, if I want to save $6K total.
The limit is per person, and it's $4,000 in 2005. See Publication 590.
-- Phil Marti Clarksburg, MD
Your assumption is correct. However, the 2005 amounts are a maximum of $4000 per individual or $4500 if at least age 50 in 2005.
-- Alan
Your answer is correct: No.
-- David M. Woods, EA, ChFC, CLU Woods Financial Services Norwood, MA 02062
No, you can't.
Correct.
-- Rich Carreiro snipped-for-privacy@animato.arlington.ma.us
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