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How to Use the Roth IRA Contribution Calculator

To use the Roth IRA Contribution Calculator, input your annual income, filing status, and age. The calculator will then provide the maximum contribution you can make for each year from 2018 to 2022.

Roth IRA Contribution Calculator for 2018-2022

The Roth IRA Contribution Calculator helps you determine your maximum allowable contributions for each tax year based on IRS rules. The limits may vary depending on your income and filing status.

2018 Contribution Limits

In 2018, the maximum contribution was $5,500, or $6,500 if you’re age 50 or older.

2019 Contribution Limits

For 2019, the contribution limit increased to $6,000, or $7,000 if you’re age 50 or older.

2020 Contribution Limits

The limits remained the same in 2020, with $6,000 for those under 50 and $7,000 for those 50 and older.

2021 Contribution Limits

In 2021, the contribution limits stayed at $6,000, or $7,000 if you are 50 or older.

2022 Contribution Limits

The year 2022 also had the same limits: $6,000 for those under 50 and $7,000 for those 50 and above.

FAQs

What is a Roth IRA?

A Roth IRA is a retirement savings account that allows your money to grow tax-free. Contributions are made with after-tax dollars, and you can withdraw tax-free in retirement.

Can I contribute to a Roth IRA if I am over the income limit?

If your income exceeds the limits for direct contributions, you might still be able to contribute through a backdoor Roth IRA conversion.

How does age affect my contribution limits?

If you are age 50 or older, you’re eligible for catch-up contributions, which increases your limit by $1,000.