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New Member
posted Jun 3, 2019 1:35:04 PM

I am retired and stopped contributing to my ROTH IRA. Is the now "Closed?" Also, could I begin making contributions to my ROTH? I will be 68 the end of February.

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1 Best answer
Employee Tax Expert
Jun 3, 2019 1:35:05 PM

You must have taxable compensation in order to contribute to a Roth IRA. 

The exception: If your spouse has earned income and you file a joint return, then you can contribute to a Roth IRA regardless of age and without earned income of your own.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-li...

1 Replies
Employee Tax Expert
Jun 3, 2019 1:35:05 PM

You must have taxable compensation in order to contribute to a Roth IRA. 

The exception: If your spouse has earned income and you file a joint return, then you can contribute to a Roth IRA regardless of age and without earned income of your own.

https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-li...