Earned income and social security payments: for IRA Contributions, the Turbo Tax process does not mention if social security income is counted as earned income OR NOT.

[tamnt54]

Turbo Tax indicates that I cannot contribute to my IRA without earned income, but does not specify that social security is part of that. Is it, or Not?

[KrisD15]

No, Social Security is NOT earned income. 

Earned Income are wages and self-employment. (sometimes scholarships) 

[tamnt54]

Can I make that to a Roth IRA?

Roth IRA contribution is based on a modified AGI

IRA is based on 'Earned Income' 

Is this correct and one of the differences between Roth IRA and IRA?

Thanks very much,

Todd.

[ThomasM125]

No, both traditional and ROTH IRA's require you to have earned income to make a contribution.