My wife has over $7k in W2 comp. (box 1) which is nonqualified" (box 11). Can that income qualify as earned income for purposes of making a Roth contribution?
The turbotax program says her earned income is zero and thus can't make a contribution.
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1 Best answer
dmertz
Level 15
Mar 20, 2020 1:46:18 PM
No, nonqualifed deferred compensation is not compensation that will support an IRA contribution. The amount on a W-2 that will support an IRA contribution is the amount in box 1 minus the amount in box 11.
1 Replies
dmertz
Level 15
Mar 20, 2020 1:46:18 PM
No, nonqualifed deferred compensation is not compensation that will support an IRA contribution. The amount on a W-2 that will support an IRA contribution is the amount in box 1 minus the amount in box 11.