Gemini on Question 49, Sep 25

For 2025, here are the Roth IRA contribution limits and income phase-out ranges for a single filer who is 50 years old:

1. The 2025 Contribution Limit: $8,000

Because you will be 50 or older by the end of the year, you are eligible for a "catch-up" contribution.

• •Base limit: $7,000
• •Age 50+ catch-up: $1,000
• •Total allowed: $8,000

(Note: You can only contribute up to $8,000 or the total amount of your taxable earned income for the year, whichever is less).

2. The 2025 Income Phase-Out Range (Single Filer): $150,000 to $165,000

Eligibility to contribute directly to a Roth IRA is based on your Modified Adjusted Gross Income (MAGI). For 2025, here is how the phase-out works for single filers:

• •Under $150,000: You can contribute the full $8,000.
• •Between $150,000 and $165,000: Your contribution limit is reduced (phased out). You can make a partial contribution, which you will need to calculate based on where your income falls in that range.
• •$165,000 or higher: You cannot contribute directly to a Roth IRA.

What if your income is too high?
If your MAGI exceeds $165,000, you can still get money into a Roth IRA using a legal loophole called a Backdoor Roth IRA. This involves making a non-deductible contribution to a Traditional IRA and immediately converting it to a Roth IRA. (If you have existing pre-tax money in Traditional IRAs, you should consult a tax professional about the "pro-rata rule" before doing this).