Roth IRA Calculator

For 2026, you can contribute up to $7,500 across all your IRAs, or $8,600 if you're 50 or older. Your limit may be lower if your income falls in the phase-out range, and it can't be more than your taxable compensation for the year.

The ability to contribute phases out with modified adjusted gross income of $153,000–$168,000 for single and head-of-household filers, and $242,000–$252,000 for married couples filing jointly. If you're married filing separately and lived with your spouse at any time during the year, the range is $0–$10,000.

It's your adjusted gross income from Form 1040 with a few items added back, such as deducted Traditional IRA contributions, the student loan interest deduction, and excluded foreign income. It also excludes any income from converting to a Roth IRA. For many W-2 employees, MAGI is close to AGI. IRS Publication 590-A has the full worksheet.

If your MAGI falls inside the phase-out range, your limit is cut in proportion to how far into the range you are. The result is rounded up to the next $10, and if it's more than zero but less than $200, you can still contribute $200.

It mostly depends on whether you expect a higher or lower tax rate in retirement than you pay today. A Roth is taxed now and grows tax-free. A deductible Traditional IRA saves tax now, but withdrawals are taxed later. If you expect a higher rate later, a Roth usually comes out ahead. If you expect a lower rate, a Traditional IRA usually does. Many people split contributions between both to hedge.

Yes. Being covered by a workplace plan doesn't affect Roth IRA eligibility — only your income and filing status do. Workplace coverage does affect whether a Traditional IRA contribution is tax-deductible.

You can't contribute directly, but some people make a nondeductible Traditional IRA contribution and then convert it to a Roth — often called a backdoor Roth IRA. The pro-rata rule can make part of the conversion taxable if you have other pre-tax IRA money, so review Form 8606 and talk with a tax professional first.

You can take out your own contributions at any time without tax or penalty. Earnings are tax- and penalty-free once the account has been open at least 5 years and you're 59½ or older (or meet another exception, such as disability). Other withdrawals of earnings may be taxed and hit with a 10% penalty.

Excess contributions are taxed at 6% for each year they stay in the account. You can avoid the tax by withdrawing the excess and any earnings on it before your tax filing deadline, or by recharacterizing the contribution to a Traditional IRA.

No. The original owner of a Roth IRA never has to take required minimum distributions, so the money can keep growing tax-free for as long as you like. Beneficiaries who inherit a Roth IRA do generally have to withdraw it within a set period.