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Author Topic: Roth IRA - Income limit  (Read 1967 times)

jeev

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Roth IRA - Income limit
« on: January 05, 2018, 10:00:38 AM »
Quick question -

Roth IRA Income Limit (for married filing jointly) for 2017 is ‘Phase-out starts at $186,000; ineligible at $196,000’. Does the limit stay same if either one has workplace 401K?

Thank you in advance for responding!
« Last Edit: January 05, 2018, 11:53:48 AM by jeev »
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Lucky Recardito

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Re: Roth IRS - Income limit
« Reply #1 on: January 05, 2018, 10:38:08 AM »
No difference in the income limits based on 401k availability!
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Lucky Recardito

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Re: Roth IRS - Income limit
« Reply #2 on: January 05, 2018, 10:50:01 AM »
Quote from: L.A.S. on January 05, 2018, 10:48:21 AM
However, the Roth income limit is based on your AGI for 2017, not your gross salary.  It is my understanding that tax deferred contributions to 401ks are are not considered to be part of AGI. 

+1 that (traditional) 401k contributions don't count toward your AGI.
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MacGyverIt

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Re: Roth IRS - Income limit
« Reply #3 on: January 05, 2018, 02:18:47 PM »
Quote from: L.A.S. on January 05, 2018, 10:48:21 AM
However, the Roth income limit is based on your AGI for 2017, not your gross salary.  It is my understanding that tax deferred contributions to 401ks are are not considered to be part of AGI.

This always makes my eyes cross when Turbo Tax tells me I need to file a Traditional instead of a Roth, though I'm making less than 186k. *sigh*
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