Browsing Tag:high earner

I contributed to a Roth IRA, but make too much money. What do I do now?

The IRS specifies that you can only contribute to a Roth IRA if you make under a certain income limit. For 2022 you can make a full contribution if you are: Single and make under $129,000 or married and make under $204,000. You can make a partial contribution if you are: Single and make under $144,000 or married and make under $214,000. What if you made a contribution already earlier in the year and then made more than you expected…