This issue has been resolved: the website has been updated and the typos corrected.
So I wanted to verify that the IRA contribution limit was, as I originally thought, $5,500. I went to the IRS webpage linked here https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-IRA-Contribution-Limits.
The page says that the 2015 limit is $5,500. OK, makes sense. But then I continue reading and get to the examples section where examples 2 and 3 imply that the actual limit is $6,500.
- John, age 42, with an IRA and Roth IRA can contribute $6,500.
- Sarah, age 52, can contribute $7,500. She can contribute an extra $1000 in addition to her $6,500 contribution because she's over 50.
These seem like some pretty deliberate typos. Is the IRS always this blatantly inconsistent or am I missing something?