turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Oct 16 is the IRS deadline–file confidently with expert help. File Now
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

robb-b56
New Member

What amount can my IRA contribution be if I didn't make much money in 2017?

 
1 Best answer

Accepted Solutions
MichaelDC
New Member

What amount can my IRA contribution be if I didn't make much money in 2017?

If your earned income for the year is less than the contribution limit (in 2017 and 2018, $5,500 for those under 50), you can only contribute up to your earned income. In other words, if your earned income is $3,000, you can only contribute up to $3,000.

Please feel free to post any additional details or questions in the comment section.

View solution in original post

1 Reply
MichaelDC
New Member

What amount can my IRA contribution be if I didn't make much money in 2017?

If your earned income for the year is less than the contribution limit (in 2017 and 2018, $5,500 for those under 50), you can only contribute up to your earned income. In other words, if your earned income is $3,000, you can only contribute up to $3,000.

Please feel free to post any additional details or questions in the comment section.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies
v