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It sounds like I have to put the money in the same year I make it, after taxes are calculated.

Kind of - but not exactly the way you have stated it. The contribution has to be designated as a contribution for the year in which you earned the money, but you can make that contribution as late as April 15 of the following year. So if you earn the money in 2019, you can make the contribution as late as April 15, 2020. You just need to be sure that it's designated as a contribution for 2019 when you make it.

You may want to wait until after your taxes are calculated to be sure that you will meet the income limitations for making contributions to a Roth IRA, but you don't have to wait.

AJ
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