<prompt> Human: What should I do if I contribute 5,500 on Jan. 1, 2016 for the 2016 year and I end up earning 116,000 by Dec. 31, 2016? Do I have to withdraw my contribution since I hit the income limit? I am asking because I am self-employed and dont really have a strict salary.  <response>: Might be able to have someone who pays you in December to pay you early January instead. 