Solved: IRA and NII income

My father took a lump sum distribution from his pension at retirement and opened an IRA. Are the distributions (RMD and additional) to be included in income when figuring the Net Investment Income tax amount?

posted

If he did a complete rollover then that is not counted for the NII however the RMD is part of the AGI.

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If he did a complete rollover then that is not counted for the NII however the RMD is part of the AGI.

I have small business . TT let me contribute to 401K solo and SEP IRA. Why it did not allow me to contribute to ROTH IRA saying I do not have earned income.?

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IRA and NII income

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