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Returning Member
posted Feb 26, 2021 9:50:06 AM

ira contributions

I have "earned income" on a W-2 from a non-qualified pension plan; am I allowed to make IRA contributions based on that as earned income?

 

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1 Replies
Level 15
Feb 26, 2021 9:55:10 AM

No.  The IRS Pub 590A specifically says you can use the W-2 taxable compensation MINUS the box 11 amount for IRA contributions.