Terms of Use 

Yes, you can have as many Roth IRAs as you wish, but there are strict limits on how much you can contribute to these accounts during any given tax year.

No matter how many IRAs you have or what type (Traditional, Roth or SEP) you can contribute no more than $6,000 per year for tax year 2020 ($7,000 if you're age 50 or over). 

Roth IRA contributions are only allowed if your income (technically your Modified Adjust Gross Income or MAGI) is below a certain level:

2020 Income limits for Roth IRAs:

  • Single filers:  $124,00 - $139,000. 
  • Married filers:  $196,000 - $206,000. 
  • Married filing separately:  $0 - $10,000.
If your income is less than the range shown, you can contribute up to 100% of compensation or the contribution limit, whichever is less. If it's greater than the second number in the range shown, then you can't contribute anything.  

There are no income limits for Traditional IRAs, but there are income limits for tax deductible contributions.