Who is eligible to contribute to a Roth IRA?

To contribute to a Roth IRA, an individual (or spouse) must have eligible compensation (i.e. earned income) equal to or greater than the amount of the Roth contribution (the maximum annual contribution is $6,000 for 2021 and 2022, plus catch-up contributions (if eligible). Compensation for Roth IRAs is defined the same as for Traditional IRAs. In addition, a person’s modified adjusted gross income (MAGI) must fall within the applicable limits for her tax filing status. Unlike a Traditional IRA, there is no age limit for making contributions to a Roth IRA.

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