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spanky--
New Member

Does income from a 'non qualified plan' qualify as earned income when determining if a 2016 contribution to a taxpayer IRA account is deductible?

My 2016 income is from a non qualified plan, dividends and interest income.  To deduct your 2016 IRA contribution it must come from 'earned income'.  Dividends and interest income do not qualify as earned income but does income from a non qualified plan meet the earned income requirement?


Thank you,

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KenH1
New Member

Does income from a 'non qualified plan' qualify as earned income when determining if a 2016 contribution to a taxpayer IRA account is deductible?

No.  Within this IRS link, click on the third item, "What is compensation?"

https://www.irs.gov/publications/p590a/ch01.html#en_US_2016_publink1000230355

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1 Reply
KenH1
New Member

Does income from a 'non qualified plan' qualify as earned income when determining if a 2016 contribution to a taxpayer IRA account is deductible?

No.  Within this IRS link, click on the third item, "What is compensation?"

https://www.irs.gov/publications/p590a/ch01.html#en_US_2016_publink1000230355

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