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M
megan45
March 24, 2025
Question

"Your traditional IRA contribution of 1350 is more than earned income of zero...excess contribution." but earned income is not zero. How do i get around this w/o penalty?

  • March 24, 2025
  • 1 reply
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    1 reply

    M
    MinhT1
    March 24, 2025

    In order to contribute to a Traditional IRA, you must have taxable compensation, such as wages, salaries, commissions, tips, bonuses, or net income from self-employment. 

     

    Please verify that you have reported on your return such income in an amount equal or greater than your IRA contribution.

     

    Please read this IRS document for more information.

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