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If i have "earned" income of $12,000 but no ($-0-) "taxable" income can i contribute to a roth ira?

And I am single tax payer.
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1 Best answer

Accepted Solutions
Coleen3
Intuit Alumni

If i have "earned" income of $12,000 but no ($-0-) "taxable" income can i contribute to a roth ira?

Yes. Contributions to an IRA are determined by earned income, not taxable income.

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4 Replies
Coleen3
Intuit Alumni

If i have "earned" income of $12,000 but no ($-0-) "taxable" income can i contribute to a roth ira?

Yes. Contributions to an IRA are determined by earned income, not taxable income.

If i have "earned" income of $12,000 but no ($-0-) "taxable" income can i contribute to a roth ira?

Coleen, Thank you very much and I hope you have a great and smooth tax season!!!
Coleen3
Intuit Alumni

If i have "earned" income of $12,000 but no ($-0-) "taxable" income can i contribute to a roth ira?

My pleasure. Thanks.
dmertz
Level 15

If i have "earned" income of $12,000 but no ($-0-) "taxable" income can i contribute to a roth ira?

Except that income excluded under the Foreign Earned Income Exclusion does not support an IRA contribution.
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