IRA contribution for retired person who has w-2 “income”
Can someone who is officially retired but received w-2 income still make and IRA contribution?
They will continue to receive a W-2 from their old employer for Restricted Stock Units vesting, imputed income from company paid life insurance. So while they are retired they will still be receiving W-2 income for the next few years and are wondering if that allows them to make and IRA contribution?
Permalink Submitted by Alan - IRA critic on Mon, 2021-03-01 23:53
Yes, a W-2 documents earned income eligible for making IRA contributions up to the amount of Box 1 less Box 11 but not more than the contribution limit.