Roth IRA Contributions

Contributions to Roth IRAs are made with after-tax dollars. This is the major difference between Traditional and Roth IRAs.

Any person who currently has earned income is eligible to open and maintain a Roth IRA account. The amount you're eligible to contribute is based on income and age.

Roth Contribution Limits

You can make a contribution to your Roth IRA for the amount of earned income you have per year up to a maximum of $5,500 or $6,500, depending on your age.

Under 50 years of age, you may contribute up to $5,500 per year.

If you're over 50 years of age, you may contribute up to $6,500 per year.

Modified Adjusted Gross Income & IRA Contribution Limits

Your maximum contribution to a Roth IRA is phased out based on your modified adjusted gross income (MAGI):

  • More than $184,000 but less than $194,000 for a married couple filing jointly or qualifying widow(er)
  • More than $117,000 but less than $132,000 for a single individual or head of household
  • Less than $10,000 if you are married filing separately

Your tax advisor can determine the amount for which you are eligible and provide you with further information about IRA contributions.

IRA Contribution Forms

Please visit our Forms Center for forms needed to complete your yearly IRA contributions.

This material is for informational purposes only and Scottrade is not responsible for any errors or omissions. The information is subject to change without notice and should not be construed as a recommendation or investment advice. Please consult your tax or legal advisor(s) for questions concerning your personal tax or financial situation.