Roth IRA contributions in year of retirement
If I continue to work through the month of January 2022 and then retire, can I contribute the full $7,000 for the 2022 year to my Roth IRA; if so does the full $7,000 need to be contributed in January ?
Terry Says
If you earned $7,000 in that year (ie, in that month of January) then you can contribute $7,000 if otherwise qualified –based on your Modified Adjusted Gross income in that year. And you have until the date that year’s tax return is due to make your contribution.