SIMPLE IRA Eligibility
Using the IRS SIMPLE model document and looking at the previous year compensation requirement, is the required $5,000 compensation in 2 previous years:
$5,000 per year in each of the two years or
$5,000 in total over the course of 2 years ?
Thank you.
Permalink Submitted by Alan - IRA critic on Fri, 2019-12-27 23:09
5000 in each of two previous years, not necessarily consecutive, and expected to earn 5000 in current year..