earned income/ Roth contribution eligibility
Can you contribute to a Roth IRA if you had 1099 income in a year but also showed a net loss due to business expenses
Can you contribute to a Roth IRA if you had 1099 income in a year but also showed a net loss due to business expenses
Permalink Submitted by Alan - IRA critic on Wed, 2020-05-13 18:12
No, you must have net earnings from self employment, not a net loss. However, if you also have W-2 income, the net loss from self employment will not reduce the W -2 income available to support an IRA contribution.