I just spent 15 minutes on hold with the IRS so you, my dear reader (that's right, you're the only one) wouldn't have to.
The contribution limit for your Roth IRA in 2009 for those younger than 50 is $5,000. Why in increase for inflation? Technically, it has been. According to the very nice Mrs. McQue from the IRS, it's because the 2008 and 2009 contributions were adjusted together, and it's actually buried in the middle of some form from 2006. So yeah, it's considered an inflation raise from 2006. :::shrugs::: My guess is that the contribution for 2010 will be $5,500 or $6,000. Don't quote me on that though...
So why isn't it on the web site? Both Mrs. McQue and I found it to be a good question. The best she could offer is that as soon as some IRS blah-blah form is updated and distributed, it would be updated on the website.
So there you have it kids. Another year at $5,000. This is great news for me right now because that gives me an extra $1,000 to put towards my 2009 goals.
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