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Am I correct in my belief that there is no income limit for NON-deductible IRA contributions?
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Greetings, WKB, and welcome. You asked:

<<Am I correct in my belief that there is no income limit for NON-deductible IRA contributions?>>

That's absolutely correct for a nondeductible traditional IRA. The Roth IRA also allows nondeductible contributions, but none may be made to that vehicle if AGI exceeds $110K for single filers or $160K for joint filers.

Regards….Pixy

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Sorry, all IRA contributions are limited to $2,000/year. PP
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OOPS! I didn't read carefully. You asked about income limited, not contribution limit. Sorry! PP
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<<Am I correct in my belief that there is no income limit for NON-deductible IRA contributions?>>

That's absolutely correct for a nondeductible traditional IRA. The Roth IRA also allows nondeductible contributions, but none may be made to that vehicle if AGI exceeds $110K for single filers or $160K for joint filers.


To add to Pixy's answer. Just being picky. ;)

There is a minimum income limit for the yearly maximum IRA contribution of $2000. You will need at least $2000 in earned income.

..IF

P.S. To explain my reasons for being picky. One, it's past my bedtime. Two, there have been several questions in the past about the ability to make contributions when the person only had unearned income.
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IF sez:

<<Am I correct in my belief that there is no income limit for NON-deductible IRA contributions?>>

That's absolutely correct for a nondeductible traditional IRA. The Roth IRA also allows nondeductible contributions, but none may be made to that vehicle if AGI exceeds $110K for single filers or $160K for joint filers.

To add to Pixy's answer. Just being picky. ;)

There is a minimum income limit for the yearly maximum IRA contribution of $2000. You will need at least $2000 in earned income.

…P.S. To explain my reasons for being picky. One, it's past my bedtime. Two, there have been several questions in the past about the ability to make contributions when the person only had unearned income.>>


Pickiness for the sake of accuracy is always welcome. And I do hope you got some sleep so you don't get cranky. :-)

Regards….Pixy

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