In 2018 I contributed $4200 in Roth IRA. My MAGI was 190,500 (married filling jointly). The income limits were 189 -199 K. Did I contribute more than what was allowed?

[sdarora]

I did some math and seems like I should be fine. Can someone confirm?

(190500 - 189000)/10000 = 0.15

0.15 * 5500 = 825

5500 - 825 = 4675

Max I could contribute in 2018 would be $4675

[DianeC958 · Accepted solution]

No, from the information you have here you did not over contribute.  One way for you to be able to contribute the full amount to a Roth IRA and not concern yourself with the income limitations is to do a BackDoor Roth IRA.

To have this work, you contribute to a regular IRA account (which is not deductible for you due to your income) then you convert it, during the same year to a Roth IRA.  By doing this there are no limits based on your income and you can make the full contribution to your Roth IRA account.

Link on how to enter a Backdoor Roth IRA in TurboTax

[dmertz]

sdarora, your math is correct except that the $4,675 is to be rounded up to the next $10 multiple, $4,680.