bvmbvm
Returning Member

I've had the same Roth IRA for years. Now, I see there's a tax on excess contributions. Is this because of the new regulations?

Is there a maximum amount one can contribute to one's Roth IRA? After I paid off a bill, I increased my monthly contribution. Now there is a .06% penalty for excess contributions.  Worksheet 2018 and Form 5329 do not fully explain.