cpnyc
New Member

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Thanks @DianeW777, to clarify...

1. I have a single-member LLC

2. I have two 1099-NECs from contract work that are NOT related to my LLC. These were put under my personal SSN.

 

Am I understanding correctly that even though the income I have from those NECs is NOT related to my primary business, I still have to look at the net income across both #1 and #2 to be able to calculate the Roth IRA contribution? I currently put in a contribution to my ROTH IRA equivalent to the 1099-NEC income because I have no direct expenses I'm attributing to those two contract gigs.