Retirement tax questions

You can only fund an IRA using taxable compensation, up to $6,000 for tax year 2019 if under age 50.

 

Go to this IRS website for information - https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-ira-contribution-li...

 

See IRS Publication 590-A Contributions to Individual Retirement Arrangements (IRAs), Table 1-1 on page 6, Compensation for Purposes of an IRAhttps://www.irs.gov/pub/irs-pdf/p590a.pdf#page=6