{ "media_type": "text", "post_content": "What happens in the year you make over the salary limit for Roth IRAs? I am under the limit this year and plan to max out my contribution. Next year, I’m expecting to earn over the limit. Am I able to invest next year before I earn 140k? Not sure how this works", "post_id": "604c05bfe8d63400249d491b", "reply_count": 6, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

What happens in the year you make over the salary limit for Roth IRAs? I am under the limit this year and plan to max out my contribution. Next year, I’m expecting to earn over the limit. Am I able to invest next year before I earn 140k? Not sure how this works

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If you suspect you might earn near or over the limit, I’d suggest just doing backdoor contribution rather than contributing directly to the Roth in case you do earn over the limit.

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If you are over the Roth income limit, you can’t contribute to Roth that year. One way around this is something referred to as a backdoor Roth. You make a nondeductible contribution to a traditional Ira and then immediately convert it to a Roth IRA. If you have any traditional Ira balances you could end up paying some tax though

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It’s like 136k AGI. Google is your friend- tons of helpful info all over on back doors and limits.

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Use the mega backdoor.

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