What is the maximum contribution that can be made to a Roth IRA?
You can contribute up to $5,000 for 2008 or 2009 ($6,000 if you are age 50 or older in 2008 or 2009) or up to 100% of your compensation whichever is less. If you are eligible to do so, you may contribute to both a Traditional IRA and a Roth IRA in the same year, but the total amount you contribute cannot exceed the annual limits. Roth IRA contributions are not tax deductible.
