Supplemental Pensions with W-2s
I am retired and not working. However, I receive two small pensions, one reported on a 1099-R and a supplemental pension on a W-2. Can I contribute to IRAs since I have income reported on a W-2?
Roger G.
I am retired and not working. However, I receive two small pensions, one reported on a 1099-R and a supplemental pension on a W-2. Can I contribute to IRAs since I have income reported on a W-2?
Roger G.
Permalink Submitted by Alan - IRA critic on Thu, 2015-02-26 01:46
You can contribute based on the W-2 amount in Box 1 less Box 11. Box 11 is for income earned in a prior year.