You are allowed to contribute the greater of 100% of your earned income (salary or wages from a job or self-employment income) or $5,500 to a Roth and/or traditional IRA in 2017. If you are age 50 by year’s end, or older, you can contribute up to an extra $1,000 ($6,500 total).
However, if you earn less than $5,500 by the end of the calendar year, you can only contribute up to the amount of your annual earnings.
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