the appearance or semblance of truth; likelihood; probability: The play lacked verisimilitude. something, as an assertion, having merely the appearance of truth.
But, the Internal Revenue Service sets limits on how much you can contribute each year to an IRA. There are different limits for single taxpayers and married couples because the government recognizes a couple will likely need twice as much money to retire on than one person. Contribution Limits The maximum anyone under the age of 50 can contribute to an IRA is $5,000 per year. The maximum limit for couples is $10,000, and it doesn't matter if that comes from one person or both. IRS rules allow married couples to each make the maximum contribution even if one of the spouses didn't work that year or earn any income.
In addition, married workers can also contribute to a spousal IRA on behalf of their spouse if that spouse did not have any earned income that year. Regardless, income from interest, dividends, and capital gains alone does not permit a person to contribute to an IRA. How Much You Can You Contribute to an IRA? Provided your compensation is at least as much as the amount of your contributions, taxpayers under 50 years old may currently contribute up to $5,500 per year to their IRA(s). Those at least 50 years old by the end of the tax year may contribute an additional $1,000 in catch-up savings annually for a total of $6,500.