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Deductions & credits
With no income reported in box 1 of a 2022 Form W-2 (minus any amount in box 11) and no net profit from self-employment in 2022, you are not eligible to make any IRA contribution for 2022. Any IRA contribution you have made for 2022 is an excess contribution subject to a 6% penalty every year that the excess contribution remains in your IRA.
March 13, 2023
5:38 AM