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Bill02660
January 27, 2020
Question

My husband and I are retired and both have part time jobs for a total of about $10K. I made $3K out of the $10K total. I contributed $6500 to my Roth. TT now says I have to withdraw the excess (over $3K). WHY?

  • January 27, 2020
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    1 reply

    S
    SweetieJean
    Employee
    January 27, 2020

    IRA's are INDIVIDUAL Retirement Accounts.  Since you only made $3,000 yourself,  that's the most you can contribute to your Roth.  If he otherwise qualifies, Hubby can contribute $7,000 to his own IRA.

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