Qualifing Income for Roth
Does investment real estate income or other investment income qualify as income for Roth eligebility?
Thanks
SC
Does investment real estate income or other investment income qualify as income for Roth eligebility?
Thanks
SC
Permalink Submitted by Alan Spross on Mon, 2010-05-03 21:23
No, qualifying income for a regular Roth IRA contribution is limited to income from wages and salaries, commissions, self employment income, alimony or separate maintenance and military or combat pay.
Rental income, investment income, pensions or annuities, and income from certain partnerships is specifically excluded.
Of course a Roth conversion can be done without qualifying income as long as you have a retirement account to convert.