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canam1969
Returning Member

additional roth ira contributions

my wages on box 1 of W2 is apx 130k after 10920 in 401k contributions. can i still do a roth ira?

 

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Accepted Solutions
DanaB27
Expert Alumni

additional roth ira contributions

It depends on your filing status and modified adjusted gross income (MAGI). Please see 

2020 - Amount of Roth IRA Contributions You Can Make for 2020.

 

If you cannot make Roth contributions because of your income then you might want to consider a backdoor Roth IRA Please see How do I enter a backdoor Roth IRA conversion? and What Is a Backdoor Roth IRA? for additional information.

 

 

 

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1 Reply
DanaB27
Expert Alumni

additional roth ira contributions

It depends on your filing status and modified adjusted gross income (MAGI). Please see 

2020 - Amount of Roth IRA Contributions You Can Make for 2020.

 

If you cannot make Roth contributions because of your income then you might want to consider a backdoor Roth IRA Please see How do I enter a backdoor Roth IRA conversion? and What Is a Backdoor Roth IRA? for additional information.

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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