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April 5, 2025
Question

Contribution to Roth IRA matches Earned Income, yet software states that I contributed to Roth IRA more than I earned. Please help.

  • April 5, 2025
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1 reply

Employee
April 5, 2025

Are you self-employed?  Your "compensation" for purposes of contributing to an IRA is your net income from self employment minus the deductible portion of self-employment tax, which is about 92% of your net income.