Last year, from June of 2017 to December of 2017, I earned 14,000 dollars. I maxed out my 2017 Roth IRA contribution at 5,500 dollars. Can I contribute to my 2018 Roth IRA with income from last year? Or do I have to wait until I have made 5,500 dollars in this year (Jan 1-Dec 31).
Thank you!
You'll need to sign in or create an account to connect with an expert.
Sorry each year is separate. You don't have to wait to make the income before you contribute but you need to make enough income by the end of the year or you will have an excess contribution.
Sorry each year is separate. You don't have to wait to make the income before you contribute but you need to make enough income by the end of the year or you will have an excess contribution.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
soph383899
New Member
mootzie
Level 2
sulliz
New Member
Mike2959
New Member
kayli-brett
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.