I am retired & work only 4 hours each week. When making my IRA contribution is it based on the total of W-2 box #1 or W-2 box #3
With regard to your Forms W-2, the IRS considers your eligible compensation to support an IRA contribution to be the amount in box 1 minus any amount in box 11.
I am retired & work only 4 hours each week. When making my IRA contribution is it based on the total of W-2 box #1 or W-2 box #3
With regard to your Forms W-2, the IRS considers your eligible compensation to support an IRA contribution to be the amount in box 1 minus any amount in box 11.
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