Roth IRA Calculator

Looking for an easy-to-use Roth IRA calculator?

Well, look no further!

Roth IRAs are one of the best ways to save for retirement. But, did you know there are strict rules on who can and cannot make deposits to a Roth IRA account each year? It’s true!

Pay attention because you don’t want to mess this up – putting money in a Roth IRA when you’re not allowed to can leave you with hundreds, maybe even thousands, in IRS penalties (even if it was done by accident). In other words, it is crucial to make sure you’re eligible to participate in a Roth IRA before you deposit any money into the account.

roth ira calculator

Use this free, simple Roth IRA calculator to see
how much you can contribute to a Roth IRA in 2020!

Roth IRA Calculator

Find out in seconds whether you're allowed to contribute to a Roth IRA this year (2020), and if so, how much!
Since you don't have any earned income you cannot contribute to any type of IRA this year.

Adjusted Gross Income ('AGI') is the total of all the income you bring in, minus certain deductions . It can be found on the first page of your tax return, line 8b.

To calculate Modified Adjusted Gross Income, take your AGI and add back the following deductions:

- student loan interest
- 1/2 self employment taxes
- qualified tuition expenses
- Passive losses / rental losses
- adoption expenses
- IRA contributions
- and more...check out a full list here
Since you don't have any earned income you cannot contribute to any type of IRA this year.

Adjusted Gross Income ('AGI') is the total of all the income you bring in, minus certain deductions . It can be found on the first page of your tax return, line 8b.

To calculate Modified Adjusted Gross Income, take your AGI and add back the following deductions:

- student loan interest
- 1/2 self employment taxes
- qualified tuition expenses
- Passive losses / rental losses
- adoption expenses
- IRA contributions
- and more...check out a full list here
Since you don't have any earned income you cannot contribute to any type of IRA this year.

Adjusted Gross Income ('AGI') is the total of all the income you bring in, minus certain deductions . It can be found on the first page of your tax return, line 8b.

To calculate Modified Adjusted Gross Income, take your AGI and add back the following deductions:

- student loan interest
- 1/2 self employment taxes
- qualified tuition expenses
- Passive losses / rental losses
- adoption expenses
- IRA contributions
- and more...check out a full list here
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Calculate!
Please note this calculator tool and the results presented are provided to you as a courtesy for informational purposes on an “as is” and “as available” basis. Use of this tool and the results presented is at your own risk, and shall not create an advisory client relationship between us, and the results presented herein should not be construed as personalized investment advice or recommendations. We disclaim all warranties with respect to its use or the use of the results presented herein, and we will not be liable for any damages of any kind with the use of this tool or the resents presented herein. You should not use the results presented herein without first consulting your financial, legal, and tax advisors.The tool contains information derived from third party sources. Although we believe these third party sources to be reliable, Taylor Hoffman makes no representations as to the accuracy or completeness of any information derived from such third-party sources and takes no responsibility therefore. Taylor Hoffman is not a Public Accounting firm, and Taylor Hoffman is not a law firm. The information contained herein should not be construed as tax advice or legal advice. Rather the contents included are a reflection of the view and opinions of the author. There is no guarantee that the information provided fits every situation, and individuals should consult their tax advisor and/or attorney for more specifics. The results presented herein are based upon information and assumptions provided by you. Any information contained herein is dependent on the quality and accuracy of data furnished by you. Changes in, or inaccuracy of, the information you have provided to us may materially affect the information presented. These assumptions may turn out to be materially inaccurate for your situation, which would materially alter the accuracy of the results presented, and therefore you should be guided accordingly.

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Calculate!

How do you know if you're eligible to put money in a Roth IRA?

You have two options:

1) Thumb through pages and pages of confusing, complex IRS guidelines and figure it out on your own;

OR

2) Try out our free and simple Roth IRA contribution calculator to find out in seconds whether you’re eligible to contribute to a Roth IRA. 

The Bottom Line

Figuring out whether you can use a Roth IRA has never been easier. For example, all you need for this handy Roth IRA contribution calculator is your age, marital status, employment income, in addition to any other IRA contributions you’ve made this year. Boom, done! 

Give us a call today or drop a line at resources@taylorhoffman.com you want to talk more about your personal Roth IRA investment strategy.

Open a Roth IRA today!

Contact Us!

Disclosures1:

1Taylor Hoffman is an SEC registered investment adviser with its principal place of business in the State of Virginia. Any references to the terms “registered investment adviser” or “registered,” do not imply that Taylor Hoffman or any person associated with Taylor Hoffman have achieved a certain level of skill or training. Taylor Hoffman may only transact business in those states in which it is registered /notice filed, or qualifies for an exemption or exclusion from registration /notice filing requirements. For information pertaining to the registration status of Taylor Hoffman or for additional information about Taylor Hoffman, including fees and services, please visit www.adviserinfo.sec.gov. The information contained herein is provided for informational purposes, represents only a summary of the topics discussed, and should not be construed as the provision of personalized investment advice or an offer to sell or the solicitation of any offer to buy any securities. The contents should also not be construed as tax or legal advice.  Rather, the contents including, without limitation, any forecasts and projections, simply reflect the opinions and views of the author. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change without notice. There is no guarantee that the views and opinions expressed herein will come to pass. This document contains information derived from third party sources.  Although we believe these third party sources to be reliable, Taylor Hoffman makes no representations as to the accuracy or completeness of any information derived from such third-party sources and takes no responsibility therefore. Taylor Hoffman is not a Public Accounting firm, and the information contained herein should not be construed as tax advice. Rather the contents included are a reflection of the view and opinions of the author. There is no guarantee that the information provided fits every situation, and individuals should consult their tax advisor for more specifics. Taylor Hoffman is not a law firm, and the information contained herein should not be construed as legal advice. Rather the contents included are a reflection of the view and opinions of the author. There is no guarantee that the information provided fits every situation, and individuals should consult their attorney for more specifics.