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New Member
posted Jun 1, 2019 12:32:28 PM

If i have no income other than 300 dollars from tutoring for the whole year. can i contribute that 300 to my roth IRA? thanks

If i have no income other than 300 dollars from tutoring for the whole year. can i contribute that 300 to my roth IRA? thanks

0 9 2710
9 Replies
Level 15
Jun 1, 2019 12:32:30 PM

Is the Self-employed income?

New Member
Jun 1, 2019 12:32:32 PM

yes it is

Level 15
Jun 1, 2019 12:32:34 PM

Never mind. It's under $400 so you are OK.

Level 15
Jun 1, 2019 12:32:36 PM

It is now past the deadline to make a Roth contribution for 2018

New Member
Jun 1, 2019 12:32:38 PM

yes i meant roth 2019

Level 15
Jun 1, 2019 12:32:39 PM

If your income goes over $400 by Dec 31 you'll have to reevaluate.

New Member
Jun 1, 2019 12:32:40 PM

ok thanks

Level 15
Jun 1, 2019 12:32:40 PM

a contribution of no more than $300 would be OK no matter what you make, so you can put that money in now. If you want to maximize the contribution without exceeding  you have to know your income as of Dec 31.

Alumni
Jun 1, 2019 12:32:42 PM

Yes, you can.