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arahwang
Level 1

I adjestes my goss income to include w2 box1 and SCH on line 7 of 1040. I cannot contribute my full 5500 for IRA even though line 7 is more than 5500. Please help

 
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Hal_Al
Level 15

I adjestes my goss income to include w2 box1 and SCH on line 7 of 1040. I cannot contribute my full 5500 for IRA even though line 7 is more than 5500. Please help

The SCH income does not count as earned income (compensation) for purposes of an IRA deduction, despite being on line 7

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Hal_Al
Level 15

I adjestes my goss income to include w2 box1 and SCH on line 7 of 1040. I cannot contribute my full 5500 for IRA even though line 7 is more than 5500. Please help

The SCH income does not count as earned income (compensation) for purposes of an IRA deduction, despite being on line 7

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