MaryQG
New Member

Roth IRA Contribution with both W2 and 1099-NEC

Hi!  My daughter made $4848 of W2 income and $671 of 1099-NEC income (from Instacart).  She paid $95 in self employment tax according to turbotax return.  Can she contribute $5424 ($4848 + $671 - $95) to her Roth IRA?  I think that is right but wanted to be sure and it's not obvious.

 

thanks,

Mary