Answer a few easy questions and we'll tell you if you qualify for a Roth IRA or a Traditional IRA.
Question 1: How much is your combined gross income?
You may not contribute to a Roth IRA if you make more than a certain amount of money.
Question 2: What is your tax filing status?
There are different income limits based on if you are single or married.
Question 3: How old are you going to be at the end of 2015?
The amount you can contribute varies based on your age. Over 50, you can contribute more.
Question 4: Will you participate in an employer-sponsored retirement plan in 2016?
For Traditional IRAs, your IRA contributions may not be tax deductible if you are covered at work.
Question 5: Will your spouse participate in an employer sponsored retirement plan in 2016?
For Traditional IRAs, your IRA contributions may not be tax deductible if your spouse is covered at work.
Adjust your answers
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Should you rollover your 401(k)?:
2016 IRA Rules: