Already have a Fidelity IRA?
You can make one-time or recurring contributions to any of your IRAs (including your rollover IRA).
If you are managing your own investments, don't forget to regularly invest your contributions. It's how your money has the potential to grow over time.
No account fees or minimums to open Fidelity retail IRA accounts. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs), and commissions, interest charges, and other expenses for transactions, may still apply. See Fidelity.com/commissions for further details.
In 2022, full deductibility of a contribution is available to covered individual whose 2022 Modified Adjusted Gross Income (MAGI) is $109,000 or less (joint) and $68,000 or less (single); partial deductibility for MAGI up to $129,000 (joint) and $78,000 (single). In addition, full deductibility of a contribution is available for non-covered individuals whose spouse is covered by an employer sponsored plan when filing jointly with a MAGI of $204,000 or less in 2022; and partial deductibility for MAGI up to $214,000. If neither you nor your spouse (if any) is a participant in a workplace plan, then your traditional IRA contribution is always tax-deductible, regardless of your income.
A qualified distribution from a Roth IRA is tax-free and penalty-free, provided the 5-year aging requirement has been satisfied and one of the following conditions is met: age 59½ or older, disability, qualified first-time home purchase, or death.
Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.
For information regarding how Fidelity representatives are compensated, view Fidelity Representatives' Compensation Disclosure (PDF).
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917