I am going to retire on 12/30/22. I don't get a vacation pay until January 2023. I want to contribute this vacation pay into a Roth IRA for the year 2023 since I already maxed out the contribution for 2022. Do you see any problems?
Thank you.
01817
1 Best answer
dmertz
Level 15
Dec 2, 2022 10:59:00 AM
As long as you receive a 2023 Form W-2 with box 1 showing sufficient compensation and your modified AGI permits, you can contribute to a Roth IRA for 2023. Check with your employer to confirm how they will be reporting this income.
1 Replies
dmertz
Level 15
Dec 2, 2022 10:59:00 AM
As long as you receive a 2023 Form W-2 with box 1 showing sufficient compensation and your modified AGI permits, you can contribute to a Roth IRA for 2023. Check with your employer to confirm how they will be reporting this income.