Want to Contribute to a Roth IRA, but you Earn Too Much?

If you earn over $161K (Single filers) $240K (Joint filers), then you cannot directly contribute new money to a Roth IRA. You might be able to “backdoor” the contribution though. If you don’t have pre-tax money in a Traditional IRA, then: 1. Create a Traditional IRA and make “nondeductible” contributions (up to $8,000). 2. Convert the nondeductible Traditional IRA to a Roth IRA