Roth IRA

Description and Definition of Roth IRA

Contributions to a Roth IRA are not deductible but if you meet the qualifications your withdrawals, including interest and gains, are completely tax free. Withdrawals must be taken after you reach age 59-1/2 and at least four calendar years after the year in which the account was opened. Up to $2,000 a year can be contributed to a Roth IRA as long as your adjusted gross income is under $150,000.

Resources

See Also

Further Reading

• Roth IRA in the West's Tax Law Dictionary
• Roth IRA in “A Dictionary of Taxation”