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June 1, 2019
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Can I contribute to my existing roth IRA If I am retired and have no W2 earned income?

  • June 1, 2019
  • 2 replies
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Best answer by rainydaze

You must have earned income to fund an IRA.  If you do not have W2 income but have self-employment income (that you are reporting), you can use that to fund the IRA.  

2 replies

DoninGA
Employee
June 1, 2019
If you have no taxable compensation you cannot contribute to an IRA.
rainydazeAnswer
Employee
June 1, 2019

You must have earned income to fund an IRA.  If you do not have W2 income but have self-employment income (that you are reporting), you can use that to fund the IRA.