A Roth Individual Retirement Arrangement (IRA) is an account or annuity set up in the United States solely for the benefit of you or your beneficiaries. You can contribute to a Roth IRA if you have taxable compensation and your modified AGI is within certain limitations. Regardless of the amount of your AGI, you may be able to convert amounts from either a traditional, SEP, or SIMPLE IRA into a Roth IRA. You also may be able to roll over amounts from a qualified retirement plan to a Roth IRA. However, it differs from traditional IRAs in that contributions are not deductible. For information on contributions and the limitations please refer to Chapter 2 of the Publication 590, Individual Retirement Arrangements.