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BadHerb
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Can I put "rental income" into my existing IRA?

 
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3 Replies

Can I put "rental income" into my existing IRA?

Not if it's Schedule E rental income, which is considered Passive or Unearned income. IRA contributions must come from Earned income, normally W-2 wages or net Self-Employment.

Can I put "rental income" into my existing IRA?

No, rental income cannot be used to fund an IRA.  Only taxable compensation can be used to fund an IRA.

 

See IRS Publication 590-A Contributions to Individual Retirement Arrangements (IRAs) page 6 - https://www.irs.gov/pub/irs-pdf/p590a.pdf#page=6

 

What Isn’t Compensation?
Compensation doesn’t include any of the following items.
• Earnings and profits from property, such as rental income, interest income, and dividend income.

Can I put "rental income" into my existing IRA?

Are you asking if an IRA can own rental properties and collect rent ?
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