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Retirement tax questions
Are you making a brand new contribution or doing a rollover or conversion? Yes for new contributions you need earned income and there is a max. IRS pub 590A for IRA Contributions
https://www.irs.gov/pub/irs-pdf/p590a.pdf
If you are doing a rollover do not enter it under deductions as a new contribution. Just enter the 1099R in the income section.
‎February 1, 2023
12:01 PM