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IRA
What are the contribution rules for a Roth IRA?
What are the contribution rules for a Roth IRA?

1) Maximum contribution for 2020 and 2021 is $6,000 ($7,000 if age 50 or older). 

2) Roth IRA eligibility is based on your modified adjusted gross income (MAGI), and tax-filing status. Partial contributions are allowed for certain income ranges. Please check with a tax advisor regarding your maximum allowable Roth contribution.

3) The contribution deadline is May 17, 2021 for the 2020 tax year.

For more information regarding contributing to your IRA, please see IRS publication 590-a.

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