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October 15, 2019
Question

I am retired and get pension and Social Security but also now own a business. I contribute some of my earned income to a Roth IRA but for the year declared a loss. Does that make my contribution not allowed?

  • October 15, 2019
  • 1 reply
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    1 reply

    VolvoGirl
    Employee
    October 15, 2019

    Sorry that's right.  You need to have a net profit to show earned income to contribute to a IRA.