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Type of Earned Income for Roth IRA
- I had a total of 6,000 inW2 Earned Income in 2019.
- I also had a loss of -5,000 in 1099 Income in 2019.
- I contributed 6,000 to my 2019 Roth IRA.
Is my Earned Income based on just my W2 or both W2 and 1099 combined?
In other words, Do I have a 5,000 excess contribution in 2019?
Any guidance on how to correct this in TurboTax would be greatly appreciated.
Topics:
March 17, 2022
5:33 PM