I entered my personal information - including contributions to my ROTH IRA - and got hit with a penalty because I didn't have any "earned income".
I then entered my business income (my only income) on the business tab, but the penalty will not go away. Is business income not allowed for ROTH IRA contributions?
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The Sch C is earned income on the net profit.
A loss will not work for doing an IRA if that is only earned income.
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