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.

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?

1942

Expert Alumni

Mar 19, 2025 10:30:54 AM

No, Social Security is NOT earned income.

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

New Member

Mar 20, 2025 8:58:18 AM

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.

Expert Alumni

Mar 20, 2025 9:03:20 AM

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

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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.