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Level 1
July 16, 2020
Question

Roth IRA

  • July 16, 2020
  • 1 reply
  • 2 views

Can I contribute full 7K to a Roth IRA with inhertiance money when I make no income? I am over 58 years old

    1 reply

    Carl
    Level 11
    Level 11
    July 21, 2020

    No. retirement contributions, both ROTH and traditional are based on "EARNED" income. Inherited money is not earned.