Artículo Not filing a tax return.. Not filing a tax return.

id="en_US_2025_publink1000172813"> Not filing a tax return. If you don't have to file a tax return but do have to pay one of the additional taxes mentioned earlier, file the completed Form 5329 with the IRS at the time and place you would have filed your Form 1040 or 1040-SR. Be sure to include your address on page 1 and your signature and date on page 3. For payment options, see the Instructions for Form 1040 or the Instructions for Form 1040-NR, or go to IRS.gov/Payments to see all your payment options. Form 5329 not required. You don't have to use Form 5329 if any of the following situations exist. Distribution code 1 (early distribution) is correctly shown in box 7 of all your Forms 1099-R. If you don't owe any other additional tax on a distribution, multiply the taxable part of the early distribution by 10% (0.10) and enter the result on Schedule 2 (Form 1040), line 8. If you don't have to file Form 5329, check the box next to the entry space after the text “if not required, check here.” However, if you owe this tax and also owe any other additional tax on a distribution, don't enter this 10% additional tax directly on your Form 1040 or 1040-SR. You must file Form 5329 to report your additional taxes. If you rolled over part or all of a distribution from a qualified retirement plan or IRA, the part rolled over isn't subject to the tax on early distributions. If you have a qualified disaster distribution. Roth IRAs Regardless of your age, you may be able to establish and make nondeductible contributions to a retirement plan called a Roth IRA. Contributions not reported. You don't report Roth IRA contributions on your return. What Is a Roth IRA? A Roth IRA is an individual retirement plan that, except as explained in this chapter, is subject to the rules that apply to a traditional IRA (defined earlier). It can be either an account or an annuity. Individual retirement accounts and annuities are described under How Can a Traditional IRA Be Opened? in chapter 1 of Pub. 590-A. To be a Roth IRA, the account or annuity must be designated as a Roth IRA when it is opened. Unlike a traditional IRA, you can't deduct contributions to a Roth IRA. But, if you satisfy the requirements, qualified distributions (discussed later) are tax free. You can leave amounts in your Roth IRA as long as you live. When Can a Roth IRA Be Opened? You can open a Roth IRA at any time. However, the time for making contributions for any year is limited. See When Can You Make Contributions under Can You Contribute to a Roth IRA? next. Can You Contribute to a Roth IRA? Generally, you can contribute to a Roth IRA if you have taxable compensation (defined later) and your modified AGI (defined later) is less than: $246,000 for married filing jointly or qualifying surviving spouse; $165,000 for single, head of household, or married filing separately and you didn't live with your spouse at any time during the year; or $10,000 for married filing separately and you lived with your spouse at any time during the year. . You may be eligible to claim a credit for contributions to your Roth IRA. For more information, see chapter 3 of Pub. 590-A. . Is there an age limit for contributions? Contributions can be made to your Roth IRA regardless of your age. Can you contribute to a Roth IRA for your spouse? You can contribute to a Roth IRA for your spouse provided the contributions satisfy the Kay Bailey Hutchison Spousal IRA limit (discussed under How Much Can Be Contributed , earlier, under Traditional IRAs ), you file jointly, and your modified AGI is less than $246,000. Compensation. Compensation includes wages, salaries, tips, professional fees, bonuses, and other amounts received for providing personal services. It also includes commissions, self-employment income, nontaxable combat pay, military differential pay, taxable alimony and separate maintenance payments, and taxable non-tuition fellowship and stipend payments. See What is compensation , earlier, for more information. Modified AGI. Your modified AGI for Roth IRA purposes is your AGI as shown on your return with some adjustments. Use Worksheet 9-2 to determine your modified AGI. Worksheet 9-2. Modified AGI for Roth IRA Purposes Use this worksheet to figure your modified AGI for Roth IRA purposes. 1. Enter your AGI from Form 1040 or 1040-SR, line 11a 1. _____ 2. Enter any income resulting from the conversion of an IRA (other than a Roth IRA) to a Roth IRA (included on Form 1040 or 1040-SR, line 4b) and a rollover from a qualified retirement plan to a Roth IRA (included on Form 1040 or 1040-SR, line 5b) 2. _____ 3. Subtract line 2 from line 1 3. _____ 4. Enter any traditional IRA deduction from Schedule 1 (Form 1040), line 20 4. _____ 5. Enter any student loan interest deduction from Schedule 1 (Form 1040), line 21 5. _____ 6. Enter any foreign earned income and/or housing exclusion from Form 2555, line 45 6. _____ 7. Enter any foreign housing deduction from Form 2555, line 50 7. _____ 8. Enter any excludable savings bond interest from Form 8815, line 14 8. _____ 9. Enter any excluded employer-provided adoption benefits from Form 8839, line 30 9. _____ 10. Add the amounts on lines 3 through 9 10. _____ 11. Enter: • $246,000 if married filing jointly or qualifying surviving spouse, • $10,000 if married filing separately and you lived with your spouse at any time during the year, or • $165,000 for all others 11. _____ Is the amount on line 10 more than the amount on line 11? If yes, then see the Note below. If no, then the amount on line 10 is your modified AGI for Roth IRA purposes. Note: If the amount on line 10 is more than the amount on line 11 and you have other income or loss items, such as social security income or passive activity losses, that are subject to AGI-based phaseouts, you can refigure your AGI solely for the purpose of figuring your modified AGI for Roth IRA purposes. (If you receive social security benefits, use Worksheet 1 in Appendix B of Pub. 590-A to refigure your AGI.) Then, go to line 3 above in this Worksheet 9-2 to refigure your modified AGI. If you don't have other income or loss items subject to AGI-based phaseouts, your modified AGI for Roth IRA purposes is the amount on line 10. How Much Can Be Contributed? The contribution limit for Roth IRAs generally depends on whether contributions are made only to Roth IRAs or to both traditional IRAs and Roth IRAs. Roth IRAs only. If contributions are made only to Roth IRAs, your contribution limit is generally the lesser of the following amounts. $7,000 ($8,000 if you are 50 or older in 2025), or Your taxable compensation. However, if your modified AGI is above a certain amount, your contribution limit may be reduced, as explained later under Contribution limit reduced . Roth IRAs and traditional IRAs. If contributions are made to both Roth IRAs and traditional IRAs established for your benefit, your contribution limit for Roth IRAs is generally the same as your limit would be if contributions were made only to Roth IRAs, but then reduced by all contributions for the year to all IRAs other than Roth IRAs. Employer contributions under a SEP arrangement or SIMPLE IRA plan don't affect this limit. This means that your contribution limit is generally the lesser of the following amounts. $7,000 ($8,000 if you are 50 or older in 2025) minus all contributions (other than employer contributions under a SEP arrangement or SIMPLE IRA plan) for the year to all IRAs other than Roth IRAs. Your taxable compensation minus all contributions (other than employer contributions under a SEP arrangement or SIMPLE IRA plan) for the year to all IRAs other than Roth IRAs. However, if your modified AGI is above a certain amount, your contribution limit may be reduced, as explained next under Contribution limit reduced . Contribution limit reduced. If your modified AGI is above a certain amount, your contribution limit is gradually reduced. Use Table 9-3 to determine if this reduction applies to you. Table 9-3. Effect of Modified AGI on Roth IRA Contribution This table shows whether your contribution to a Roth IRA is affected by the amount of your modified AGI . IF you have taxable compensation and your filing status is... AND your modified AGI is... THEN... Married filing jointly or Qualifying surviving spouse less than $236,000 you can contribute up to $7,000 ($8,000 if you are 50 or older in 2025). at least $236,000 but less than $246,000 the amount you can contribute is reduced as explained under Contribution limit reduced in chapter 2 of Pub. 590-A. $246,000 or more you can't contribute to a Roth IRA. Married filing separately and you lived with your spouse at any time during the year zero (-0-) you can contribute up to $7,000 ($8,000 if you are 50 or older in 2025). more than zero (-0-) but less than $10,000 the amount you can contribute is reduced as explained under Contribution limit reduced in chapter 2 of Pub. 590-A. $10,000 or more you can't contribute to a Roth IRA. Single, Head of household, or Married filing separately and you didn't live with your spouse at any time during the year less than $150,000 you can contribute up to $7,000 ($8,000 if you are 50 or older in 2025). at least $150,000 but less than $165,000 the amount you can contribute is reduced as explained under Contribution limit reduced in chapter 2 of Pub. 590-A. $165,000 or more you can't contribute to a Roth IRA. Figuring the reduction. If the amount you can contribute to your Roth IRA is reduced, see Worksheet 2-2 under Can You Contribute to a Roth IRA? in chapter 2 of Pub. 590-A for how to figure the reduction. When Can You Make Contributions? You can make contributions to a Roth IRA for a year at any time during the year or by the due date of your return for that year (not including extensions). . You can make contributions for 2025 by the due date (not including extensions) for filing your 2025 tax return. . What if You Contribute Too Much? A 6% excise tax applies to an