I am a Live In Provider for my mom in California. My W-2 Box 1 shows $500 for the first month income while waiting for form SOC 2298 to get processed and approved. $500 + $18,000 excluded income = $18,500 Total Income. Can I contribute $6,500 to Roth IRA?
If yes, how would I input in the 1040? Would I have to file State Tax too? And correct me if I’m wrong… Some or all of this income may be included or excluded in California State Tax but, it’s all or none for Federal Tax?
