IRA contribution tax deductibility

Submitted by ann gunst on Tue, 2020-02-25 22:18

• Can you deduct an IRA contribution if there is no w-2 (earned) income but has the following income:
Investment income (interest, dividends)
Inherited IRA RMD
ROTH conversion
LT capital gains
• Can you deduct a HSA contribution if there is no w-2 (earned) income but has the following income:
Same as above



Submitted by Alan - IRA critic on Tue, 2020-02-25 23:32

  • None of the listed income is earned income, therefore the person cannot make an IRA contribution of any type unless filing jointly with a spouse who has earned income from which a spousal contribution can be made.
  • HSA contributions can be made and deducted without earned income.

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