Gemini on Question 49, Sep 10

For the 2025 tax year, your total Roth IRA contribution limit is $8,000.

Here is the exact breakdown of how that limit is calculated and the income rules that apply to you as a single filer:

1. The Contribution Limit

Because you are 50 or older, you are eligible for a "catch-up" contribution.

• •Base Contribution Limit: $7,000
• •Age 50+ Catch-up Contribution: $1,000
• •Maximum Total: $8,000

2. The Income Phase-Out Range (Single Filer)

Your ability to contribute directly to a Roth IRA depends on your Modified Adjusted Gross Income (MAGI). For 2025, the income phase-out range for a single filer is $150,000 to $165,000.

Here is how that affects your $8,000 contribution:

• •If your MAGI is under $150,000: You can contribute the full $8,000.
• •If your MAGI is between $150,000 and $165,000: Your contribution limit is reduced (phased out). You can only make a partial contribution.
• •If your MAGI is $165,000 or higher: You cannot contribute directly to a Roth IRA.

Two Important Rules to Keep in Mind:

• •The Earned Income Rule: To contribute the full $8,000, you must have at least $8,000 in earned income (wages, salary, self-employment income) for the year. You cannot contribute more than you earn.
• •The Backdoor Roth Alternative: If your MAGI exceeds $165,000 and you are locked out of direct Roth IRA contributions, you can still utilize a legal strategy known as a "Backdoor Roth IRA." This involves making a non-deductible contribution of $8,000 to a Traditional IRA and immediately converting it to a Roth IRA. (Note: This works best if you do not have other pre-tax Traditional IRA balances, due to the IRS "pro-rata" rule).

Disclaimer: I am an AI, not a CPA or financial advisor. It is always a good idea to consult with a tax professional regarding your specific financial situation.