How Do Roth IRA Contributions Affect Taxes? 
Contributions to your Roth IRA do not have any tax consequences unless you exceed the permissible limits . Those limits are $ 5,500 for most people and $ 6,500 for those 50 and older . The premium is paid with after-tax dollars just like you would buy a cup of coffee . When the benefit is received it is free of income tax if you are then over 59.9 and the plan has been in force for five years or more . 