Retired on social security can I fund an IRA

ccebuhar · ‎June 6, 2019

Hal_Al · ‎June 6, 2019

No.

You must have earned income (Wages or self employment) to be eligible to make IRA contributions, deductible or non deductible, Roth or Traditional.

KarenJ · ‎June 6, 2019

You can open and make contributions to a traditional IRA if:

You (or, if you file a joint return, your spouse) received taxable compensation during the year, and
You weren’t age 70½ by the end of the year.

Retirement tax questions