I got a state tax refund this year of $7,100 which I understand will be taxed as federal income. I FI/RE'd late last year and will have very little other income this year other than a few thousand dollars in interest and dividends. I itemized my deductions last year but may not reach the threshold to do so this year. Can I contribute to my Roth IRA?
Also, I'm currently 49 and will be turning 50 in March of 2018. If I'm eligible to contribute, is the maximum amount $5,500 or $6,500?
Thanks!