How much can I contribute to my Traditional IRA?
You can contribute to a traditional IRA if you earn compensation, and if you will not reach age 70 1/2 by the end of the year. In 2016, an individual age 49 and below can contribute up to $5,500, and an individual age 50 or above can contribute up to $6,500. However, you can never contribute more than you’ve earned in income for the year. If you file a joint tax return, you can treat your spouse’s compensation as your own (except your combined contributions cannot exceed your combined compensation or contribution limit, whichever is less). All earnings in a Traditional IRA are not taxed until they are withdrawn. You may find this article helpful: The FAQs of IRAs.
(575) 647-4500 or
Hours of Operation:
Monday thru Friday, 8 am-5 pm
P.O. Box 99
Las Cruces, NM 88004
Routing & Transit # 312276470
Federally Insured by NCUA
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the U.S. Government. National Credit Union Administration, a U.S. Government Agency.
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We do business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.
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