The IRA and Roth IRA contribution limits for 2009 remain at $5,000--the same as 2008.

Persons turning 50 years old this year are able to make a $6,000 contribution to either the traditional IRA or Roth IRA.

Phase-out ranges for Roth IRAs are changing in 2009.  Adjusted gross income levels determine whether persons are able to contribute to a Roth IRA. 

In 2009, contribution levels begin to decrease when adjusted gross income exceeds $105,000 for individuals and $166,000 for joint filers.

Roth IRA contributions are not allowed for persons with adjusted gross incomes exceeding $120,000 (individuals) and $176,000 if filing jointly.