Roxanne7
Level 1
04-11-2023
10:58 AM
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Can my client fund their 2022 Traditional IRA with a loan from their margin account?
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sjrcpa
Level 15
04-11-2023
11:02 AM
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IRS doesn't care where they get the money for the IRA contribution.
The more I know the more I don’t know.
qbteachmt
Level 15
04-11-2023
11:02 AM
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They can find the money in a gutter, for all it matters. No one cares where the money comes from.
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abctax55
Level 15
04-11-2023
11:04 AM
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Yes
HumanKind... Be Both
qbteachmt
Level 15
04-11-2023
01:42 PM
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Perhaps it also needs to be stated: this margin account cannot be how they "earned" money. Eligibility for contributing to an IRA is not by margin investing.
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Don't yell at us; we're volunteers
Don't yell at us; we're volunteers
