Generally, you can contribute to a Roth IRA if you have taxable compensation (defined below) and your 2023 modified AGI is less than:

• $228,000 for MFJ or Qualifying Widow(er),
• $153,000 for Single, Head of Household, or MFS and you did not live with your spouse at any time during the year, and
• $10,000 for MFS and you lived with your spouse at any time during the year.

Compensation includes wages, salaries, tips, professional fees, bonuses, and other amounts received for providing personal services. It also includes commissions, self-employment income, nontaxable combat pay, military differential pay, and taxable alimony and separate maintenance payments.

Compensation does not include any of the following items:

• Earnings and profits from property, such as rental income, interest income, and dividend income
• Pension or annuity income
• Deferred compensation received (compensation payments postponed from a past year)
• Income from a partnership for which you do not provide services that are a material income-producing factor
• Conservation Reserve Program (CRP) payments reported on Schedule SE (Form 1040) Self-Employment Tax, Line 1b
• Any amounts (other than combat pay) you exclude from income, such as foreign earned income and housing costs

Go to IRS Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) for more information.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.