oil working interests income is it compensation
If you own an oil partnership with a “working interest” that is schedule C income and is not passive income even though you don’t work there.. For the purpose of qualifying to be allowed to make an IRA contribution is it “compensation” that would allow the recipient to make a contribution to an IRA? The RIA handbook says it does not include income from property.
Permalink Submitted by Alan Spross on Thu, 2011-07-28 04:11
If self employment taxes are being paid, it would be.