roth ira contribution
i am 66years old still working per dim with annual income @10 thousand dollars. i recently converted my 403 into ira. i would like to converted same money from ira into Roth ira. can i still contributed $ 7000.00 to Roth ira as regular yearly contribution
thank you
Permalink Submitted by Alan - IRA critic on Tue, 2020-11-10 19:39
Yes, unless the MAGI for your tax filing status is too high for Roth contributions. That could happen if you have enough investment income, rental income, etc that results in your MAGI exceeding the threshold for regular Roth contributions. Note that the conversion income does NOT count toward your MAGI for making regular Roth contributions.