The maximum annual contribution to a Roth IRA for an unmarried taxpayer who is age 35 is the smaller of $5,500 or the individual's compensation for the year.

Question

Quizplus · Accepted Answer

This is correct according to IRS rules for 2021. The maximum annual contribution to a Roth IRA for an unmarried taxpayer who is age 35 (or younger) is $5,500 or their compensation for the year, whichever is less. However, this contribution limit may be subject to additional limitations based on the individual's modified adjusted gross income (MAGI).

The Maximum Annual Contribution to a Roth IRA for an Unmarried