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Investors & landlords
Yes, if you don't have enough taxable compensation (earned income) then your IRA contributions will be limited.
For 2022 the total contributions you make each year to all of your traditional IRAs and Roth IRAs can't be more than:
- $6,000 ($7,000 if you're age 50 or older), or
- If less, your taxable compensation for the year
Please see Kay Bailey Hutchison Spousal IRA for additional information.
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‎April 18, 2023
1:16 PM