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Husband made a $1600.00 contribution to a self directed IRA, is this possible for a person with zero earned income for 2016?

Husband has self-directed IRA which consists of land purchases, can he make a $1600.00 contribution to this in 2016 if he has no earned income.  Husband is retired, lives on Social Security checks.

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KenH1
New Member

Husband made a $1600.00 contribution to a self directed IRA, is this possible for a person with zero earned income for 2016?

No it is not.  Earned income is required.

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1 Reply
KenH1
New Member

Husband made a $1600.00 contribution to a self directed IRA, is this possible for a person with zero earned income for 2016?

No it is not.  Earned income is required.

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