Skip to main content
Level 2
January 29, 2020
Question

Contribution to IRA

  • January 29, 2020
  • 1 reply
  • 7 views

MY wife and I are both retired, no wages, salary, etc.   If we contribute new money to an IRA do we have to report that money on our taxes? 

1 reply

Level 15
January 29, 2020

You can’t contribute to an IRA if you had no earned income. 

Rmm1Author
Level 2
January 29, 2020

Okay, if I can't open an IRA, can I contribute to am IRA I already have?

Level 15
January 29, 2020

No.