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    debyoung's Avatar
    debyoung Posts: 9, Reputation: 1
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    #1

    Oct 27, 2011, 07:00 AM
    Question on Roth Ira
    Does the modified AGI impact the amount that can be deducted when applying it to a ROTH IRA?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Oct 27, 2011, 07:11 AM
    Yes, it does. The ROTH IRA is a pension option for those in the lower-to-middle income bracket. Once you hit a certain level of income ($177K for married filing jointly, or $120K for single or head of household), you can no longer contribute to a ROTH IRA.
    debyoung's Avatar
    debyoung Posts: 9, Reputation: 1
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    #3

    Oct 27, 2011, 07:32 AM
    Thanks for your expertise! I appreciate it!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Oct 27, 2011, 07:40 AM
    Glad to help!
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #5

    Oct 27, 2011, 08:34 AM
    Just to clarify: you can deduct contributions you make to a regular IRA (if you meet the maximum AGI requirement), but not to a Roth IRA.
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