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Is jury duty pay earned income?
I'm trying to determine how much I can contribute to a Roth IRA. Unfortunately, Turbo Tax doesn't seem to come out and say, "Based on what you have entered so far, you can contribute an additional $____ to an IRA." Instead, they just say that I MAY be able to deduct up to $5500 to an IRA. And then they effectively say, "Here, let us port you to our free MINT.com IRA Advisor, so we can set you up with an IRA "(using our affiliated business so we can earn more money off of you, presumably). I don't need another IRA account opened up. I just need to know how much I can still contribute
Now that I am semi-retired, most of my income is not earned income. Probably less than $5500. I don't know which line items on my 1040 count as earned income, because Turbo Tax help isn't that transparent. From what I have read, it seems clear that any amount on line 7 that is attributable to me is earned income for me. Any profits from my business listed on line 12 are earned income, right? Some of the money on line 17 may or may not be earned income, depending on the specifics (active participation in a partnership, etc.). And then there is line 21, where I have $6 income for fulfilling my duty as a citizen of Bexar County and reporting for jury duty. Is jury duty pay earned Income?
What other lines may contain earned income?
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Is jury duty pay earned income?
Probably. The IRS has ruled that it is not earned income for the EIC, but, to my knowledge has not published anything concerning IRA contributions. The internet is full of conflicting info. This Reference says you can: https://www.irahelp.com/slottreport/you-must-have-earned-income-contribute-ira
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Is jury duty pay earned income?
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