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Level 2
March 3, 2025
Question

Imputed income & IRA contribution

Can Taxable Imputed Income (for Group Term Life Insurance) support an IRA contribution as Earned Income for a retired individual ?

    2 replies

    Alumni - Intuit
    March 3, 2025

    Yes, provided it is reported as compensation by it being included in your wages income reported in box 1 on your W-2 form.

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    DaveMRAuthor
    Level 2
    March 5, 2025

    Thanks very much for the reply ThomasM125