PNC Investments offers two convenient ways to manage your IRA, giving you the comfort and control that's appropriate for you.
| 2024 - Under 50 | |
|---|---|
| Filing Single | $7,000 |
| Filing Joint | $14,000 |
| 2024 - Over 50 | |
|---|---|
| Filing Single | $8,000 |
| Filing Joint | $16,000 |
Contribution Deadline
Contributions for a previous year can be made until the deadline for filing taxes for that year (without extensions)
Your income determines how much you’re able to contribute to a Roth IRA. These limits are based on your Modified Adjusted Gross Income (MAGI). Consult your tax adviser to determine your specific contribution allowances.
Married, Filing Joint: 2024
| MAGI | Contribution |
|---|---|
| Less than $230,000 | Full |
| $230,000 to $240,000 | Reduced |
| Over $240,000 | None |
Filing Single: 2024
| MAGI | Contributions |
|---|---|
| Less than $146,000 | Full |
| $146,000 to $161,000 | Reduced |
| Over $161,000 | None |
Married, Filing Separately: 2024
(and lived with spouse any time during year)
| MAGI | Contribution |
|---|---|
| $0 | Full |
| $0 - $10,000 | Reduced |
| Over $10,000 | None |
Contributions to a Roth IRA may be withdrawn penalty-free at any age. Earnings generally cannot be withdrawn prior to age 59½ without being subject to a 10% penalty. After age 59½, earnings can be withdrawn tax-free, provided the account has been open for five years.
Convert Your Traditional IRA to a Roth IRA
Call 1-855-PNC-INVEST for help in deciding whether a Roth Conversion is appropriate for you.
A Roth Conversion allows you to take money in your Traditional IRA and move it into a Roth IRA. Generally, you’ll owe taxes on the amount of money you convert. However, qualified withdrawals from a Roth IRA can be made tax-free. This may result in significant tax savings in the long run.
The following information may be provided by PNC Investments affiliates, including PNC Bank, PNC Private Bank® PNC Institutional Asset Management®
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This material is meant to educate and not to provide legal, tax, accounting or investment advice. PNC Investments and its affiliates and vendors do not provide legal, tax or accounting advice.
Important Investor Information:
Brokerage and insurance products are:
Not FDIC Insured. Not Bank Guaranteed. Not A Deposit. Not Insured By Any Federal Government Agency. May Lose Value
Securities products and brokerage services as well as managed account advisory services are offered by PNC Investments LLC, a registered broker-dealer and a registered investment adviser and Member FINRA and SIPC. Annuities and other insurance products are offered through PNC Insurance Services, LLC, a licensed insurance agency (CA License #0B57695).
PNC Investments and PNC Insurance Services do not provide legal, tax, or accounting advice.
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This document provides information on additional compensation that PNC Investments receives from certain mutual fund companies, 529 plan program managers and insurance companies.
This material does not constitute an offer or solicitation in any jurisdiction where or to any person to whom it would be unauthorized or unlawful to do so.
PNC Investments does not guarantee the performance of any investment. Investing results may vary. Investments may lose money. Diversification and asset allocation may not prevent a loss of investment.
PNC Investments LLC, PNC Insurance Services, LLC and PNC Bank, National Association are each affiliated with The PNC Financial Services Group, Inc.
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