Yearly limit is the LESSER of your earned income or 6500 (ie, whichever number is smaller)

In your example, the max is 3000

• the amount rolled over is subject to Roth IRA contribution limits

• lifetime limit of 35k

• beneficiary must be the same for at least 15 years. Changing the beneficiary resets the clock.

• cannot roll over contributions/earning from the last 5 years

Still a great option but worth noting the limitations. All the more reason to start contributing earlier!