(5) Rollover contributions (A) In general (B) The incidental death benefit requirements of section 401(a). Notwithstanding subsections (a)(6) and (b)(3) of section 408 (relating to required distributions), the following provisions shall not apply to any Roth IRA: (4) Mandatory distribution rules not to apply before death (ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins, determined by substituting "calendar year 2005" for "calendar year 2016" in subparagraph (A)(ii) thereof.Īny increase determined under the preceding sentence shall be rounded to the nearest multiple of $1,000. In the case of any taxable year beginning in a calendar year after 2006, the dollar amounts in subclauses (I) and (II) of subparagraph (B)(ii) shall each be increased by an amount equal to. Section 219(g)(4) shall apply for purposes of this paragraph. (III) in the case of a married individual filing a separate return, zero. (II) in the case of any other taxpayer (other than a married individual filing a separate return), $95,000, and (I) in the case of a taxpayer filing a joint return, $150,000, (i) adjusted gross income shall be determined in the same manner as under section 219(g)(3), except that any amount included in gross income under subsection (d)(3) shall not be taken into account, and The rules of subparagraphs (B) and (C) of section 219(g)(2) shall apply to any reduction under this subparagraph. (ii) $15,000 ($10,000 in the case of a joint return or a married individual filing a separate return).
(II) the applicable dollar amount, bears to (I) the taxpayer's adjusted gross income for such taxable year, over The amount determined under paragraph (2) for any taxable year shall not exceed an amount equal to the amount determined under paragraph (2)(A) for such taxable year, reduced (but not below zero) by the amount which bears the same ratio to such amount as. (3) Limits based on modified adjusted gross income (A) Dollar limit (B) the aggregate amount of contributions for such taxable year to all other individual retirement plans (other than Roth IRAs) maintained for the benefit of the individual. (A) the maximum amount allowable as a deduction under section 219 with respect to such individual for such taxable year (computed without regard to subsection (d)(1) 1 or (g) of such section), over The aggregate amount of contributions for any taxable year to all Roth IRAs maintained for the benefit of an individual shall not exceed the excess (if any) of. No deduction shall be allowed under section 219 for a contribution to a Roth IRA. (c) Treatment of contributions (1) No deduction allowed Such designation shall be made in such manner as the Secretary may prescribe. (b) Roth IRAįor purposes of this title, the term "Roth IRA" means an individual retirement plan (as defined in section 7701(a)(37)) which is designated (in such manner as the Secretary may prescribe) at the time of establishment of the plan as a Roth IRA. Roth IRAs (a) General ruleĮxcept as provided in this section, a Roth IRA shall be treated for purposes of this title in the same manner as an individual retirement plan. Jump To: Source Credit Future Amendments Miscellaneous References In Text Amendments Effective Date §408A.