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Level 1
February 8, 2021
Solved

additional roth ira contributions

  • February 8, 2021
  • 1 reply
  • 1 view

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

 

    Best answer by DanaB27

    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.

     

     

     

    1 reply

    DanaB27Answer
    Level 15
    February 8, 2021

    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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