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Level 1
posted Mar 3, 2025 2:38:37 PM

Imputed income & IRA contribution

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

0 2 861
2 Replies
Employee Tax Expert
Mar 3, 2025 2:46:46 PM

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

Level 1
Mar 4, 2025 7:04:14 PM

Thanks very much for the reply ThomasM125