Solved: My wife and I are both retired and do not work. We take money out of an IRA to pay our monthly bills. Can we contribute to a Roth IRA in we do not work?

My wife and I are both retired and do not work. We take money out of an IRA to pay our monthly bills. Can we contribute to a Roth IRA in we do not work?

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No. You must have taxable compensation to contribute to an IRA, Traditional or Roth. Distributions from an IRA are not taxable compensation.

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No. You must have taxable compensation to contribute to an IRA, Traditional or Roth. Distributions from an IRA are not taxable compensation.

In 2022 I used the TurboTax download to prepare my tax return and that was the first year I had Qualified Charitable Contribution (QCD) as part of my IRA RMD. I got an IRS Notice: CP2000 about that return stating that "We couldn't identify the retire...

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My wife and I are both retired and do not work. We take money out of an IRA to pay our monthly bills. Can we contribute to a Roth IRA in we do not work?

My wife and I are both retired and do not work. We take money out of an IRA to pay our monthly bills. Can we contribute to a Roth IRA in we do not work?

My wife and I are both retired and do not work. We take money out of an IRA to pay our monthly bills. Can we contribute to a Roth IRA in we do not work?

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My wife and I are both retired and do not work. We take money out of an IRA to pay our monthly bills. Can we contribute to a Roth IRA in we do not work?

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My wife and I are both retired and do not work. We take money out of an IRA to pay our monthly bills. Can we contribute to a Roth IRA in we do not work?

My wife and I are both retired and do not work. We take money out of an IRA to pay our monthly bills. Can we contribute to a Roth IRA in we do not work?

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