Solved: My husband and I both are retired. Can we take the 5,500.00 out of our fidelity account and open a traditional IRA and get the tax credit
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My husband and I both are retired. Can we take the 5,500.00 out of our fidelity account and open a traditional IRA and get the tax credit

 
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Level 15

My husband and I both are retired. Can we take the 5,500.00 out of our fidelity account and open a traditional IRA and get the tax credit

To make a contribution to an IRA you must have taxable compensation.  Pension income or income from an investment account is not taxable compensation.

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Level 15

My husband and I both are retired. Can we take the 5,500.00 out of our fidelity account and open a traditional IRA and get the tax credit

To make a contribution to an IRA you must have taxable compensation.  Pension income or income from an investment account is not taxable compensation.

View solution in original post

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