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March 30, 2020
Question

Roth IRA

  • March 30, 2020
  • 1 reply
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What is the requirement?  Must one or both of us have earned income?

1 reply

VolvoGirl
March 30, 2020

Yes you have to have earned income from W2 wages or a Net Profit on Schedule C for self employment.  

 

See IRS publication 590A (page 39 for ROTH) https://www.irs.gov/pub/irs-pdf/p590a.pdf