roth ira contribution
can one use their required mandatory ira distribution to meet the earned income requirement to make a roth ira contribution?
can one use their required mandatory ira distribution to meet the earned income requirement to make a roth ira contribution?
Permalink Submitted by jeffrey milton on Tue, 2015-01-20 22:20
can one use their required mandatory ira distribution to make a roth ira contribution?
Permalink Submitted by Alan - IRA critic on Tue, 2015-01-20 23:33
No, RMDs, investment income and social security payments are not taxable compensation. Taxable compensation from which a Roth IRA contribution is made come from wages, net earnings from self employment, alimony, commissions or non taxable combat pay. If you are married and your spouse has taxable compensation, that can be used to fund a contribution for you (or vice versa).