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That’s right, the 2013 numbers are out and have passed us by! These deal with both the 2013 Roth IRA contribution limits and the income eligibility limits.

For Roth IRAs, the changes are minimal. Basically, you can make a little bit more money in 2013 and still be eligible. The contribution limits are up too (to account for inflation). Here are the details.

  • For married couples filing jointly: The income level phase-out has gone up $5,000. The new phase-out range for 2013 is $178,000 to $188,000, up from $173,000 to $183,000 in 2012.
  • For singles: The phase-out has gone up $2,000. The new phase-out range for 2013 is $112,000 to $127,000, up from $110,000 to $125,000 in 2012.
  • For a married individual filing a separate return who is covered by a retirement plan at work: The phase-out range remains $0 to $10,000.

Here are the complete details on the 2013 Roth IRA.

If your filing status is…And your modified AGI is…Then you can contribute…
married filing jointly or qualifying widow(er)

< $178,000

up to $5,500

> $178,000 but < $188,000

a reduced amount

> $188,000

zero
married filing separately and you lived with your spouse at any time during the year

< $10,000

a reduced amount

> $10,000

zero
single, head of household, or married filing separately and you did not live with your spouse at any time during the year

< $112,000

up to $5,500

> $112,000 but < $127,000

a reduced amount

> $127,000

zero

Also, the contribution limit for Traditional IRAs went to $5,500 from $5,000. Hey, every little bit helps.

Click here for 2017 Roth IRA contribution limits, and up-to-date Roth IRA income limits.

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