Gross or net income for Roth contribution

Financial Planning - Financial planning in general. (Moderated) 

  Yahoo!   Google   Windows Live   del.icio.us   digg   Netscape

Subject Author Date Gross or net income for Roth contribution sandybeth 04-08-2008
Posted by sandybeth on April 8, 2008, 4:31 pm 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. Similar Threads Posted Max contribution to Roth April 10, 2008, 5:23 am What happens to Roth IRAs after $99K income level? April 17, 2007, 5:14 am Roth and IRA contributions without earned income? March 25, 2008, 5:31 am How to determine tax bracket, AGI or gross salary? January 13, 2007, 3:00 pm IRA along with Keogh contribution. December 21, 2006, 9:57 am 2008 IRA contribution limits? December 18, 2006, 2:45 pm Funding an LLC through the contribution of property July 11, 2007, 12:03 pm ESA vs 529 - any down sides other than lower contribution limit? December 14, 2006, 3:10 pm Question about deductibility of Contribution to Traditional IRA February 24, 2007, 2:12 pm Solo 401k Employer Contribution February 2, 2008, 6:18 am