What is the ROTH IRA income limit calculation based on? Is it off my taxable income (Line 10 on my 1040 form)?

[sunlee142]

I am filing as a single person.  On my 1040, my taxable income (line 10) is below the $120,000 limit that I'm seeing for the 2018 ROTH IRA income limit where the allowable amount contributed begins to phase out.

[Rachel_W · Accepted solution]

The Roth IRA income limit calculation is based on your Modified Adjusted Gross Income (MAGI), Line 7 of your Form 1040.

For the Single Filing Status, the ability to contribute to a Roth IRA phases out when your MAGI is between $121,000 - $135,000.