<prompt> Human: What happens if I contribute to a Roth IRA while I am close to the income limit? My salary is slightly lower than the limit for contributing to a Roth IRA, what happens if I receive an unexpected bonus or raise during that year that pushes me beyond the limit? Am I penalized in any way?  <response>: This happened to me a few years back. Withdrawing was a hassle. My suggestion would be contribute some, but not all, and then after the year has passed you will know exactly what your income is and can contribute the exact amount you are allowed on based on your actual income. 