Roxanne7
Level 1
‎04-11-2023 10:58 AM

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

IRS doesn't care where they get the money for the IRA contribution.


The more I know the more I don’t know.
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qbteachmt
Level 15
‎04-11-2023 11:02 AM

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

Yes

HumanKind... Be Both
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qbteachmt
Level 15
‎04-11-2023 01:42 PM

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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