I think that would be correct if my income were higher but with low earned income we're kind of in the opposite situation. The self-employed insurance deduction reduces my income down to zero and my understanding is that you can't contribute more than your net earnings to a Roth IRA.
We actually got bitten by this last year. Turbotax didn't flag anything but the IRS made me remove money from the Roth IRA because my contribution exceeded my net income.
