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hiknmike09
New Member

I have questions about a Roth IRA contribution.

I have rec'd TT calculations. I still want to decide IF I want to contribute to my Roth IRA. How do I know how much more I receive IF I contribute $1000-$3000?
1 Best answer

Accepted Solutions
dmertz
Level 15

I have questions about a Roth IRA contribution.

Roth IRA contributions are not deductible, so they to not reduce your taxable income.  However, a Roth IRA contribution might qualify you for a Retirement Savings Contributions Credit against your tax liability.

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2 Replies
dmertz
Level 15

I have questions about a Roth IRA contribution.

Roth IRA contributions are not deductible, so they to not reduce your taxable income.  However, a Roth IRA contribution might qualify you for a Retirement Savings Contributions Credit against your tax liability.

daughterofwealth
New Member

I have questions about a Roth IRA contribution.

The allowance depends on your filling status and income.
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