<prompt> Human: Im a student and just opened up a Roth IRA with Vanguard. I made around 3000 earned income for the 2013 year. I believe that I have until April 15th 2015 to put money in the Roth that will count for the 2014 year, correct?I already put 1400 in the Roth. My parents are willing to pitch in as well. But, with the information provided so far, would I only be able to contribute 3000 since thats what my personal earned income is on my most recent return?Heres where I get further confused. Starting in February 2015 I am acquiring a really good paying opportunity. From February to April 2015 I expect to make around 4000. I would gladly use this income to finish maxing out the Roth, but would I actually be able to use this future income to max it out for the 2014 year, or would it not count as earned income in the right time frame since I will be earning it in 2015? Basically I want to max it out and I will have the money to do so by April 15th 2015 and my parents are also willing to pitch in anyways but Im unsure if I am actually allowed to max it out at 5500.Hopefully someone understands and can give me a quick answer. Also just out of curiosity, what exactly would happen if an individual only made like 1000 on their own, but their parents maxed out a Roth IRA for them that year.  <response>: You can only put in up to your earned income for any year. Its after April 15th, 2014, so the 3,000 doesnt enter into it - the chance to put that money in is gone.would it not count as earned income in the right time frame since I will be earning it in 2015? As you probably figured out from the above paragraph, if its earned in 2015 it can only get contributed for the 2015 year. So from 112015 until 4152016.The whole April 15th thing is because of scenarios like this: Say you get a job December 24th 2014 and earn 1,000 that week. Then you get paid in January. The IRS wants to allow you to contribute your 1,000 as a 2014 contribution theres no other choice, its 2014 or nothing. But the year is already up - so the IRS gives you another 4.5 months to put that money in. So you can elect to make contributions for year N even if its early on in year N1. You could make a 1,000 contribution for 2015 in January, but only if you earn 1,000 in 2015. So that wouldnt really be the money you earned in 2014.note: well its probably for the more likely scenario that income is variable due to raises and end-of-year bonuses, so the IRS gives you time after that last paycheckbonus to contribute, because people with big bonuses wont be allowed to contribute the full 5,500, if at allexactly would happen if an individual only made like 1000 on their own, but their parents maxed out a Roth IRA for them that year.Thats an overcontribution, and the IRS would tax you on gains associated with the excess 4,500, and also penalize you 6 if I recall correctly a year until its taken out. 