Roth Ira
Hello
i am 67 years old ,and my earn income for 2021 is $4500 due to disability. Can i contribute to Roth Ira $4500 plus $1000 for catching up due to my age .
Thank You
Hello
i am 67 years old ,and my earn income for 2021 is $4500 due to disability. Can i contribute to Roth Ira $4500 plus $1000 for catching up due to my age .
Thank You
Permalink Submitted by Alan - IRA critic on Fri, 2022-03-11 14:13
If the income is reported to you on a W-2 (Box 1 less Box 11), it can be used for a Roth contribution. But SSDI is not eligible to be treated as earned income. You cannot contribute more than your earned income or you the catchup amount if the total contribution exceeds your earned income.