Roth IRA Eligibility
A semi-retiree (age 62) has 2017 W-2 income of $17,059 and a self-employment LOSS of -$10,783. How much can he contribute to a Roth IRA for 2017 based upon his earned income (his MAGI is well under the limits)?
If he does not have to reduce his W-2 income by the self employment LOSS for Roth IRA eligibility purposes, can he also make a spousal Roth IRA contribution?
Thank you.
Permalink Submitted by Alan - IRA critic on Tue, 2018-03-20 16:17
The SE loss is not subtracted from wage income for IRA contribution purposes, so retiree could make up to 6500 Roth contributions for both client and spouse.