1. Forum
  2. Usenet
  3. MISC.TAXES

  • ROTH IRA is not Earned Income?

    From Mathedman@21:1/5 to All on Wed Feb 21 13:48:24 2018
    I am retired (age > 65) and hence my income consists of IRA, Social Security, and retirement account funds from employment over the years.
    I made the $6500 Roth IRA contribution very early in the tax year.
    But, Turbo Tax claims my IRA contribution exceeds by "salary" and
    hence is not tax free. Are retirement funds not "salary" ?

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From catalpa@21:1/5 to All on Wed Feb 21 20:03:00 2018
    "Mathedman" <Mathedman@hotmail.com> wrote in message news:fd61d0e9-fee2-1f28-d615-01305452bec0@hotmail.com...
    I am retired (age > 65) and hence my income consists of IRA, Social Security, and retirement account funds from employment over the years.
    I made the $6500 Roth IRA contribution very early in the tax year.
    But, Turbo Tax claims my IRA contribution exceeds by "salary" and
    hence is not tax free. Are retirement funds not "salary" ?

    You have no earned income.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)