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Earned Income Now Sole IRA Requirement

By JOEL FRANK
Posted 2/10/20

Earned income is not bank interest or dividends or a pension or life insurance proceeds or an insurance settlement or an inheritance or withdrawals of defined-contribution plan assets, including IRA withdrawals.

That said, the most-common form of earned income is a wage or salary. Annual contributions to an IRA must be completely offset by earned income.

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