My wife and I are retired and she received a W-2 from her previous employer. The values in BOX 1, 2, 3 12C and 16 are the same. Can she contribute that amount to a ROTH IRA? Box 12 also has M and N values
Ok ... this is income which can be used for IRA contributions since it is taxable imputed earnings reported on a W-2 ... this is reporting the cost of life insurance paid by the old employer ON WHICH you owe SS & Medicare taxes. https://www.irs.gov/taxtopics/tc451
Ok ... this is income which can be used for IRA contributions since it is taxable imputed earnings reported on a W-2 ... this is reporting the cost of life insurance paid by the old employer ON WHICH you owe SS & Medicare taxes. https://www.irs.gov/taxtopics/tc451
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