fund an IRA with foreign income?
Client is semi-retired at 62 and has some income from USA but not enough to fund the max on her Roth or IRA. She does have other income coming in from Japan, but lives in PA. Can she fund her Roth more from income outside of the country?
Thank you,
Douglas
Permalink Submitted by Alan - IRA critic on Mon, 2014-04-28 23:39
Yes, if the income is earned income (not investment income) and the foreign earned income exclusion does not offset the earned income.