A Roth individual retirement account (IRA) is a personal savings plan that offers tax benefits to encourage retirement savings. You can contribute up to the lesser of $6,000 in 2019 (up from $5,500 in 2018), or 100% of your taxable compensation to a Roth IRA. In addition, individuals age 50 or older can make an extra "catch-up" contribution of up to $1,000 in 2018 and 2019. Contributions to a Roth IRA are not tax deductible, but the funds grow tax deferred and distributions are tax free under certain conditions.
You have taxable compensation (i.e., wages, self-employment income) during the year of the contribution
Your modified adjusted gross income (MAGI) for 2019 must be:
$122,000 or less for a full contribution if your tax filing status is single or head of household (partial contribution allowed, up to MAGI of $137,000)
$193,000 or less for a full contribution if your tax filing status is married filing jointly or qualifying widow(er) (partial contribution allowed, up to MAGI of $203,000)
$10,000 or less for a partial contribution if your tax filing status is married filing separately and you lived with your spouse at any time during the year (full contribution not allowed)