你指的是contributions还是distribution?

ira是traditional 还是roth?

For 401k, it's 15,500 per person per year in year 2007 and 2008, and does not include employer matchings. Normally if you only have one job, your HR will stop deduct the contribution from your paycheck when it's reached the limit. However if you switch or have 2nd job, you will have to watch it yourself.

For IRA, it's 4000 for year 2007 and 5000 for year 2008, including both traditional and roth. You cannot contribute more than the limit, otherwise you will be contacted by IRS (or FBI, not sure, no experience with that). IMHO, it's not worth it with the hassel.

If your AGI is below $50,000, then the entire $4000 is tax deductible.

AGI between $50k - $60k, you can prorate a portion of your contribution for tax deduction.

AGi above $60k, then you can only contribute to Roth IRA, which does not have any immediate tax deductions.

这个是SINGLE的收入#吗？ 两个人是DOUBLE 这个数还是咋整？

Unfortunately, the AGI limitation is not double the Single's amount for joing filers. 

For married filing jointly, AGI below $80k, contribution is fully deductible; phase-out is between $80k - $100k.  Income above $100k, then no tax deduction for contributions.

For married filing separately, divide all numbers by 2.