2010 Roth IRA Contribution Limits

With a new year comes a new limit for contributions, however 2010 will have the same contribution limits as 2009.

For 2010, the contribution limit for Roth IRAs will be $5,000 for Age 49 and Below; $6,000 for Age 50 and Above (to reflect the “catch-up” amount).

If you are getting a jump on 2010 contributions, remember to mark your contributions as 2010 Roth IRA contributions or your brokerage may be confused. If you don’t write anything, your brokerage will likely mark the contributions for 2010 but it’s better to be safe than sorry.