Retirement tax questions

For 2015, 2016, 2017 and 2018, your total contributions to all of your traditional and Roth IRAs cannot be more than:

  -  $5,500 ($6,500 if you’re age 50 or older), or
  - your taxable compensation for the year, if your compensation was less than this dollar limit.

     (Taxable compensation is generally wages that you worked for - W-2 or net self-employed income minus the deducible part of the SE tax, but can include commissions, alimony and separate maintenance, and nontaxable combat pay ).   

A rollover does not count as a contribution.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**