Can a college student who earned $3100 on box 1 of his W2 put all $3100 into a Roth IRA for TY 2024?

Student can be claimed as dependent on parents' tax return.

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1 Best answer

Expert Alumni

Mar 30, 2025 2:46:40 PM

Yes, the student can contribute all $3,100 of the earned income to a Roth IRA. Being claimed as a dependent doesn't affect eligibility.

Expert Alumni

Mar 30, 2025 2:46:40 PM

Yes, the student can contribute all $3,100 of the earned income to a Roth IRA. Being claimed as a dependent doesn't affect eligibility.

Level 2

Mar 30, 2025 3:30:42 PM

Thank you!