The Traditional and Roth IRA contribution limits for 2010 are $5,000 for those under age 50. Individuals age 50 and over can make an additional contribution of  $1,000, for a total contribution limit of $6,000.

The aforementioned contribution limits apply to both regular and Roth IRAs. While you may be eligible to contribute to both plans, your combined contribution to both accounts cannot exceed the contribution limit already set forth, which is $5,000 for those under age 50 and $6,000 for those 50 and above.