I have a client with AGI Of $231,000. He doesn't work for anyone. Independent Investor.
He wants to make an IRA Contribution of $8,000(He is over age 50).
The software will not allow.
Why?
"Independent Investor" as in no earned income?
Correct, no Earned Income. buys and sells all year.
buys and sells all year.
all income is a result of capital gains, dividends, and interest
But, but, isn't earned income required to do an IRA contribution? I'm pretty sure that's what Susan was getting at with her post.
that's what I was missing.
Thank you
You betcha!
