You'll need to sign in or create an account to connect with an expert.
The standard or itemized deduction has nothing to do with being able contribute to a Roth and if your income is low then why can't you contribute to a Roth?
You must have at least as much taxable compensation as the contribution.
The most you can contribute to all of your traditional and Roth IRAs is the smaller of:
For 2019, $6,000, or $7,000 if you’re age 50 or older by the end of the year; or
your taxable compensation for the year.
(Taxable compensation is generally wages that you worked for - W-2 or net self-employed income minus the deducible part of the SE tax, but can include commissions, certain alimony and separate maintenance, and nontaxable combat pay ).
See IRS Pub 590A "What is compensation" for details:
https://www.irs.gov/publications/p590a#en_US_2018_publink1000230355
See this IRS article for Roth contribution limits:
https://www.irs.gov/retirement-plans/roth-iras
And by the way, a ROTH IRA is not deductible if you are thinking you need to Itemize to deduct it. You can't.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
VAer
Level 4
Simonr78248
New Member
mjmoor60
New Member
5351ea506cfa
New Member
Arielbarth
New Member
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.