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Funding an IRA

Roxanne7
Level 1

Can my client fund their 2022 Traditional IRA with a loan from their margin account?

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1 Best Answer

Accepted Solutions
qbteachmt
Level 15

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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4 Comments 4
sjrcpa
Level 15

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

They can find the money in a gutter, for all it matters. No one cares where the money comes from.

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Don't yell at us; we're volunteers
abctax55
Level 15

Yes

HumanKind... Be Both
qbteachmt
Level 15

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.

*******************************
Don't yell at us; we're volunteers