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Level 2
posted Mar 23, 2023 9:19:23 PM

ROTH for 2022 - How much?

For 2022, my 19-year-old earned $3,497 on a W2 through her job and $1,500 on a 1099-MISC through a "summer internship."

 

How much can she contribute to her ROTH IRA for 2022?

 

I'm not sure if she can only contribute the W2 amount or W2 + 1099-MISC amount (both less than the 2022 limit of $6,000).

0 1 368
1 Replies
Level 15
Mar 23, 2023 9:41:25 PM

Only up to the amount on 1040 Line 1.

 

@22kw22