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Summer Internship Income & Roth IRA - Need Advice!
My daughter worked a summer internship with a state department and received $500. The organization didn’t issue any 1099 form because they said no form is required for payments under $600. She is filing her taxes and has reported the $500 as 'Other Income.' My question is: Can she contribute to a Roth IRA based on that $500, since it is earned income? This is the only income she has. Or is she not eligible because she didn’t receive a tax document from the organization?
a week ago