• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

When you're making a contribution to a Roth IRA...

O

Orsorum

Lifer
And you've only made a pittance in income (i.e. I'm a college student), how do you calculate your maximum contribution? I've made around $1000 in dividends, $500 in interest, and only $400-500 in regular income. Can I add those up, count them as income, then contribute that max amount to an IRA (as a contribution for 2002)?
 
Originally posted by: dquan97
you should be, and if you have $3K, the IRS is likely to overlook it.
Click to expand...

So if I were to cash out a mutual fund (around 3K) and contribute that into an account, even if I only made 2k, they probably wouldn't care?
 
Originally posted by: Zakath15
Originally posted by: dquan97
you should be, and if you have $3K, the IRS is likely to overlook it.
Click to expand...

So if I were to cash out a mutual fund (around 3K) and contribute that into an account, even if I only made 2k, they probably wouldn't care?
Click to expand...

most likely.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top