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If I only made $4,000, can I contribute the full $4,000 to a Roth and $4,000 to an IRA?
Only had active income of $4000. I put it in a Roth but I'm wondering If I can also put the same amount in an IRA as your T Tax program is prompting me to do that.
posted
June 5, 2019
10:45 PM
last updated
June 05, 2019
10:45 PM
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If I only made $4,000, can I contribute the full $4,000 to a Roth and $4,000 to an IRA?
No, you can't use the same income for both. If you have only $4,000 of eligible compensation, your combined regular personal contributions to traditional and Roth IRAs is limited to $4,000.
June 5, 2019
10:45 PM
1 Reply
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If I only made $4,000, can I contribute the full $4,000 to a Roth and $4,000 to an IRA?
No, you can't use the same income for both. If you have only $4,000 of eligible compensation, your combined regular personal contributions to traditional and Roth IRAs is limited to $4,000.
June 5, 2019
10:45 PM
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