IRA eligibility

Submitted by ShipsnGiggles on Mon, 2016-10-24 13:30

US Citizen working in China – has no US Earned income- all income is in the form of Yuan

Can they fund an IRA? My understanding is earned income (US dollars) is required?

All help is appreciated

Thanks



Submitted by Alan - IRA critic on Mon, 2016-10-24 17:00

Earned income is required, but income excluded under the FEIE is not eligible so if the FEIE is elected the income must be higher than the exclusion. Usually a Roth contribution is made if FEIE applies but the excluded amount is included in MAGI, so there might be a narrow income window for a Roth contribution.



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