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Retirement tax questions
Although you can make a Roth IRA contribution based on your self-employment income, if you have no other earned income the amount that you are permitted to contributed to the Roth IRA is slightly less than your $2,500 of net profit. The maximum amount that you can contribute to the Roth IRA is $2,500 minus the deductible portion of self-employment taxes. This means that a maximum of $2,323 can be contributed.
‎June 4, 2019
12:07 PM