I am trying to confirm something since I can't seem to find a direct answer to my question. This is about eligibility to contribute to a Roth IRA this year. My AGI is well below the threshold that would preclude contribution. However, apparently one of the adjustments that one must add in order to calculate MAGI is the value of traditional IRA contributions. I do make maximal contributions to tax-advantaged, employer-sponsored 403B and 457B plans. I do not contribute to an IRA. I assume that the 403B and 457B plans are not counted as "income" for the calculation of MAGI for a Roth, even though my participation in these plans would preclude me from making a tax-deferred contribution to a traditional IRA plan. Can anyone confirm this?
You'll need to sign in or create an account to connect with an expert.
Correct. See IRS Pub 590A worksheet 2-1 for the MAGI calculations.
https://www.irs.gov/publications/p590a#en_US_2018_publink1000230989
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
tocguy
Level 3
sunshineInTheRain
Level 3
Nick2024
Returning Member
Vladimir101
Level 2
SoCalRetiree
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.