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Does money in a Roth IRA count as income?

I’m 58 and want to put some money in a Roth IRA. Will this be considered income and affect my government assistance?

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October 2018

Unlike a traditional IRA, monies contributed to a Roth IRA are not tax deductible. You must have earned income in order to contribute to a Roth. So, I guess you could say that it is considered income, simply because you're not deducting the contribution amount from your taxes.

You can contribute up to $6500 each year or the amount of earned income you have, whichever is smaller. On the upper end, if you're making more than $120k as a single filer or $189k filing jointly, there is a phase out of roth contribution eligibility.

Sorry, but I can't speak to how it may affect your government assistance.

October 2018