Gross or net income for Roth contribution


S

sandybeth

I think I already know the answer to this, but just double-checking.
I will only be earning about 3 or 4K this yr as a retiree part-time
worker. So I can only contribute this earnings amount to my Roth.
However, is it the GROSS earnings or the NET? I assume gross....
I want to be sure since I will wait until the end of the yr and
contribute whatever I have earned (under the max limit of course),
since I don't need it now, it will all grow tax free, and I can
withdraw contributions anytime anyway.
SandyBeth

--------------------------------------
Misc.invest.financial-plan is a moderated newsgroup where Moderators strive
to keep the conversations on-topic for financial planning. Other posting
guidelines include a request for brevity and another for trimming posts to
which we respond. For all of the other tips and suggestions, see "FROM THE
MODERATORS: Posting to misc.invest.financial-plan", a weekly post now on the
Newsgroup.
 
Ad

Advertisements


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top