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Roth IRA Contribution Worksheet: 2005

Your filing status is married fling jointly or qualifying widow(er)

1. Enter your taxable compensation for the year.
  • Taxable compensation includes wages, salaries, commissions, self-employment income, and taxable alimony or separate maintenance.
  • Do not include earnings and profits from property (rent, interest, dividends).
  • Do not include your spouse's taxable compensation.
  • Do not reduce your taxable compensation by any losses from self-employment.
  • If your taxable compensation is equal to or greater than the annual IRA contribution limit ($4,000 if under age 50, or $4,500 if age 50 or older), skip lines (2) through (6) and enter that amount on line (7).

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2. Enter your spouse's taxable compensation for the year.

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3. Compare the amount on line (1) with the amount on line (2). If line (2) is greater than line (1), enter the amount from line (2). Otherwise, enter zero.

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4. Enter the amount your spouse contributed to his or her own traditional and Roth IRAs for the year.
  • This amount cannot be more than $4,000 ($4,500 if your spouse is age 50 or older). If it is, your spouse has made excess contributions.
  • Do not include amounts that your spouse rolled over into an IRA from another IRA or retirement plan, or amounts that your spouse converted from a traditional IRA to a Roth IRA.

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5. Subtract line (4) from line (3).
  • If result is less than zero, enter zero.

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6. Add lines (1) and (5).

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7. Enter the lesser of line (6) or $4,000 ($4,500 if age 50 or older).

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8. Enter total contributions that you made to traditional IRAs for this year.

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9. Subtract line (8) from line (7).
  • If result is zero, stop here. You cannot contribute to a Roth IRA for this year.

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10. Enter your modified adjusted gross income for the year
  • This represents the total income shown on the "adjusted gross income (AGI)" line of your federal income tax return, minus (or not including) the taxable amount of your Social Security benefits, plus income that is normally not included in AGI (such as foreign earned income, qualified U.S. savings bond income used to pay for higher education, and tax-exempt interest income). You must also add back any foreign housing exclusion or deduction, tuition fees deduction, traditional IRA deduction, student loan interest deduction, or domestic production activities deduction.
  • Do not include any amount included in AGI as a result of a qualified rollover contribution from a traditional IRA to a Roth IRA.
  • This amount represents the combined modified adjusted gross income of you and your spouse.

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11. Subtract $150,000 from line (10).
  • If result is zero or less, stop here. You can contribute the full amount shown on line (9).
  • If result is $10,000 or more, stop here. You cannot contribute to a Roth IRA for this year.

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12. Divide line (11) by $10,000.

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13. Multiply line (12) by the amount on line (7).
  • If result is not an even multiple of $10 (e.g., $660, $670, $680), round to the next lowest multiple of $10.

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14. Subtract line (13) from line (7).
  • If result is less than $200 but more than zero, enter $200.

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15. Enter the smaller of line (9) or line (14).
  • This is the total amount that you can contribute to a Roth IRA for this year.

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Prepared by Broadridge Investor Communication Solutions, Inc, Copyright 2011