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?
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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
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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