Annual Contribution Limit:
The lesser of your taxable compensation or $5,500 ($6,500 if age 50 or older)
Contribution Deadline:
April 15th
Contribution Age Limit:
None
Contribution Eligibility:
100% if MAGI is $112,000 or less (Single) No contribution permitted if MAGI exceeds $127,000
100% if MAGI is $178,000 or less (Married, filing jointly) No contribution permitted if MAGI exceeds $188,000
*If married, filing separately, a reduced contribution applies but there is no contribution permitted if MAGI exceeds $10,000
Deduction Limits:
Roth IRA contributions are not deductible
Taxes on Distributions:
Qualified distributions are tax-free and penalty free
RMDs:
Required minimum distribution rules only apply to Roth beneficiaries
Source: www.irs.gov