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Get your taxes done using TurboTax
Having zero taxable income does not mean poster has no earned income. The fact that he has self employment tax (SET) means he did have earned income and his IRA contribution is allowed.
$1775 of SET would indicate about $12,600 of net profit. The half SET deduction plus the standard deduction would explain the 0 taxable income.
Poster might want to consider recharacterizing the traditional IRA contribution to a Roth contribution. or just undoing it.
‎June 26, 2020
6:12 AM