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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1 week ago

Money contributed to a Roth IRA is taxed in the year you make the contribution. Vice-versa, money put into an IRA is deducted from taxable income. Therefore if you have income of 50k in 2018 and make a 5500 contribution to a Roth IRA, you'll still be taxed on 50k of income. 

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2 weeks ago