Roth IRA contributions are limited by income level. In general, you can contribute to a Roth IRA if you have taxable income and your modified adjusted gross income is either:
- less than $194,000 (phasing out from $184,000) if you are married filing jointly.
- less than $132,000 (phasing out from $117,000) if you are single, head of household, or married filing separately (if you did not live with your spouse at any time during the previous year).
- less than $10,000 if you're married filing separately and you lived with your spouse at any time during the previous year.
For more on whether you should contribute to a Roth or a traditional IRA see Which is better for me, a Roth or traditional IRA?