What is the limit income for the tax year 2005 to be able to fund a roth ira?

If you file your taxes either Single or Head of Household, you can earn up to $95,000 and still make a full contribution ($4,000 in 2005 and 2006. If you are 50 or over, don't forget the catch up, $500 for 2005 and $1,000 for 2006) If you make between $95,001 and $109,999 you will be able to make a partial contribution. Check the IRS website for the formula (www.irs.gov)

If you file jointly you can make the full deduction if you make $150,000 or less with the phase out falling to zero at $159,999.

Your Roth IRA Limits
The Modified Adjusted income Roth IRA limit for a taxpayer to make a full $4000 contribution for 2005 to a Roth IRA is $150,000 for joint filers and $95,000 for singles regardless of whether one is also covered by an employer's plan. Those over age 50 can contribute $4.500 for 2005. For 2006 the contribution limit is still $4,000 but rises to $ 5,000 for those over age 50.

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