IRA Contributions

Ivan123
Ivan123 Member Posts: 1 Newcomer
in Live Q/A Event

My wife and I with our combined income is over the modified AGI. We'd like to do a backdoor Roth IRA contribution, but I was wondering how much we can contribute to an IRA as we're married now. Can we do 14k total as a couple into 1 account, or do we have to do 7k separately in 2 different accounts?

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Best Answer

  • PamelaP
    PamelaP FreeTaxUSA Agent Posts: 13
    Answer ✓

    Good question! IRAs are individual accounts, so each of you will need your own account that will have separate $7k contribution limits in 2025, totaling $14k between the two of you.

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