Forms and Requests Received Will be Processed in 24-48 hours of Quest Receiving the Form.
The IRA owner of a Roth must pay taxes upfront for all money contributed, however all growth within the account is tax deferred, but if you take a qualified distribution, it can be potentially tax free. This is a major advantage for the younger population, as they can make contributions over a lifetime and watch their funds grow. In 2016 & 2017, the contribution limit for a Roth IRA is $5,500, and also allows for a $1,000 “catch-up” for those over the age of 50.
2016 & 2017 Contribution Limits:
- $1,000 catch-up (Age 50+)
Submit Your Forms: All forms can be mailed or faxed to any of our locations or emailed to NewAccounts@QuestIRA.com.
|Tax Filing Status||2016 Tax Year||2017 Tax Year|
|Single or Head of Household||$117,000 – $132,000||$118,000 – $133,000|
|Married Filing Jointly||$184,000 – $194,000||$186,000 – $196,000|
|Married Filing Separately||$0 – $10,000||$0 – $10,000|